Electric vehicle giant Tesla Inc. has increased the price of all Model 3 variants in China by 3,600 yuan (approximately $491). This price adjustment comes with the introduction of the updated Model Y in the Chinese market.
Price Changes for Model 3 Variants
The following table outlines the new starting prices for each Model 3 variant in China:
| Model 3 Variant | New Starting Price | Old Starting Price |
|---|---|---|
| Rear-Wheel Drive | 235,500 yuan | 231,900 yuan |
| Long Range All-Wheel Drive | 275,500 yuan | 271,900 yuan |
| Performance | 339,500 yuan | 335,900 yuan |
The estimated wait time for all three variants remains at 1-3 weeks.
Introduction of Refreshed Model Y
Tesla has also launched a refreshed Model Y in China, starting at 263,500 yuan. This represents a 5.4% increase from the previous model, which started at 249,900 yuan.
Importance of the Chinese Market
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 global decline in deliveries. Tesla reported global deliveries of 1.79 million vehicles in 2024, down from 1.81 million in 2023.
Global Deliveries and Market Performance
The decline in global deliveries marks the first decrease in over a decade for Tesla. The company’s performance in the Chinese market is essential to its overall growth and success.
Conclusion
The price increase of the Model 3 in China, combined with the introduction of the updated Model Y, demonstrates Tesla’s ongoing efforts to adapt to the evolving electric vehicle market. As the company continues to navigate global demand and competition, its performance in key markets like China will be crucial to its future success.