Tesla is reportedly increasing the prices of its Model Y vehicles in China, just a month after the automaker had reduced the prices by up to 13% in a bid to boost sales. While January saw a significant uptick in Tesla’s China-made car sales, it is insurance registrations that indicate actual sales in China. During the first week of February,
Tesla registered over 8,000 units, which is seen as a positive sign of demand for its vehicles in the country. To meet the increasing demand, Tesla has resumed the Model Y’s price increase in China.
The Long Range version of the vehicle now costs 311,900 yuan, up by 2,000 yuan, while the Model Y Performance now starts at 361,900 yuan, a 2,000 yuan increase from its previous price.
Tesla’s move to increase the Model Y prices again in China suggests that the automaker is experiencing a surge in demand for its popular EV model in the country.