New Tesla Model Y gets first price hike in China

Tesla is rolling out the first price hike for the new Model Y variant in China, where the company is facing immense competition from the Chinese EV makers.

The Tesla Model Y is currently listed in two trims – Rear Wheel Drive and Long Range All Wheel Drive priced at 263,500 yuan and 313,500 yuan. The new price change implies to the latter model, increasing from 303,500 yuan.

That means, the AWD version now costs 10,000 yuan (around $1,400) more than the previous price.

(Source – Tesla)

China was among the first Asian markets to list the new Model Y earlier this year. This car comes with a new front design with a more appealing look than the outgoing variant and includes a lightbar, which contributes to a facelift enhancement.

The interior has improvements for seats, a second row screen and more. The rear side has a reflective light that sets it apart from other Tesla vehicles.

Initially, Tesla listed Model Y under the Launch Series, a limited edition with a high price and free configurations such as larger wheels, free paint and interior color.

After a month of sale, the company removed this limited edition from the listing and brought RWD and AWD vehicles with a regular prices. Meanwhile, the performance variant is not yet listed on the configurator and it will come later on.

In Late February, Tesla began handing over the first set of Model Y Launch edition to customers in China. The delivery time now stands 6–10 weeks for the all-wheel drive and 2–4 weeks for the rear-wheel drive.

There’s one more thing, Tesla has announced 0% APR on new Model Y financing for up to 36 months with a 79,000 yuan down payment. There’s also a new 5-year low-interest policy for buyers who want to grab this new vehicle.