Tesla has reversed its recent price cut in China. The carmaker, which has a large factory in Shanghai, increased the price of its Model Y Performance SUV by about 1,900 euros. The August price reduction was thus reversed.
The most advanced variant of the electric SUV now costs around 47,000 euros, the American company reports on its local website. Prices for the longer-range Model Ys remained unchanged.
Tesla added some upgrades to the Model Y in China earlier this month as it looks to capture a bigger share of the world’s largest electric vehicle market. It also updated its Model 3 sedan in September, which now has an extended driving range.
Tesla already caused a price war in China at the end of last year and has also lowered its prices a number of times this year to boost sales. This has put significant pressure on the company’s profit margins.
Tesla also increased the price of its all-wheel drive Model Y Long Range EV, according to its website. The price increases in the United States by about 475 euros, to approximately 46,350 euros.
2023-10-27 05:57:37
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