Tesla Inc. has increased the price of all variants of its Model 3 in China by 3,600 yuan (approximately $491). This change is reflected in the base variant, which now starts at 235,500 yuan, a rise from the previous 231,900 yuan.
Model 3 Price Changes
The following table outlines the updated prices for the Model 3 variants in China:
| Model 3 Variant | New Starting Price | Old Starting Price |
|---|---|---|
| Rear-Wheel Drive | 235,500 | 231,900 |
| Long Range All-Wheel Drive | 275,500 | 271,900 |
| Performance | 339,500 | 335,900 |
Note: All prices are in yuan.
Estimated Wait Time
The estimated wait time for all three variants remains at 1-3 weeks.
Significance of the Price Change
The price increase coincides with the launch of a refreshed Model Y in China, which starts at 263,500 yuan. This represents a 5.4% increase over the older version’s starting price of 249,900 yuan.
Tesla’s Presence in China
China is a crucial market for Tesla, with the company selling around 657,000 vehicles in the country in 2024. This marks an 8.8% year-over-year growth, despite a decline in global deliveries.
Global Deliveries
In 2024, Tesla reported global deliveries of 1.79 million vehicles, down from 1.81 million in 2023. This decline marks the first decrease in over a decade.
Conclusion
The price increase of the Model 3 in China, combined with the launch of the updated Model Y, demonstrates Tesla’s ongoing efforts to adapt to the evolving electric vehicle market. As the company continues to navigate the global landscape, its performance in key markets like China will be crucial to its success.