Tesla makes a flip by raising the price of Model Y cars in China just a month after the cut
An aerial view of
by Tesla Shanghai factory.
Xiaolu Chu / Getty Images
- Tesla has raised its base price Model Y cross in Chinajust one month after making the cut.
- The price of the rear-wheel-drive Model Y increased 0.8 percent to 259,900 yuan ($38,195.87) in the country.
- Tesla has seen a spike in demand since it slashed prices by as much as 13.5 percent last month to stimulate output.
Tesla has raised the starting price of its Model Y crossovers in China, just weeks after offering massive cuts that helped stimulate buyer demand in the reopening country.
The electric vehicle maker has set a new base price of 261,900 yuan ($38,483.01) for the rear-wheel drive version of the car-based SUV, according to its Chinese website. That’s an increase of 2,000 yuan or 0.8%. Prices for other Model Ys remain unchanged.
In January, Tesla twice slashed prices on its models in China, its Model Y discount from 6% to 13.5% in an effort to boost demand at the Shanghai factory.
The price cut has been a huge hit, according to a Wedbush survey of Chinese consumers looking to buy a car. tram This year. Nearly 70% said they had positively affected by the cut to buy a Tesla.
Last month’s sale in China was quick follow up in the US a few days laterhelp driving increased buyer interest.
Wedbush forecast that Tesla’s stock could rise 35% this year, based on that response. shares in by Elon Musk The automaker has rallied more than 68% this year as investors covet a return in tech stocks.
Tesla increased its EV market share in the country to 12.5% in January from 9% in December, Reuters reported.
