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Tesla has raised prices one after another!

2024-04-13 Update From: AutoBeta NAV: AutoBeta > News >


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The price of Tesla Model Y long-range version has been raised again by 2000 yuan to 306400 yuan, according to Tesla's Chinese official website.

It should be noted that this price increase is Tesla's fifth price increase in more than a month, ranging from 1500 yuan to 14000 yuan. And the Model Y long-range version is also the model with the most price increases. After three price increases, the price has risen by 6500 yuan, and the price has risen from 299900 to 306400. The last price increase for the long-lasting version of Model Y was on November 21, with an increase of 2000 yuan, that is to say, in about a week, the price of Tesla Model Y version has increased by 4000 yuan. The reason for the price increase is related to the sales volume of the car market. It is understood that the Model Y is Tesla's best-selling model. Retail data show that from January to October this year, the cumulative sales of Model Y and Model 3 were 346500 and 115900 respectively.

On October 27th, Tesla China raised the price of the high-performance version of Model Y by 14000 yuan to 363900 yuan, while the prices of the other two versions remained unchanged. Tesla China raised the price of the long-lasting version of Model 3 and Model Y by 1500 yuan, starting at 297400 yuan. The long-lasting version of Model Y rose by 2500 yuan, with an adjusted starting price of 302400 yuan. On November 14, the starting prices of Model 3 and Model Y rear wheel drive versions of Tesla China were all raised, of which the price of Model 3 rear wheel drive refurbished version increased by 1500 yuan, after adjustment starting at 261400 yuan, and the price of Model Y rear wheel drive version increased by 2500 yuan, and the adjusted starting price was 266400 yuan. Tesla China raised the price of the Model Y long-range all-wheel drive version by 2000 yuan, starting at 304400 yuan.

On the contrary, at the beginning of this year, Tesla China made an unprecedented price cut on Model 3 and Model Y, with the price of the two models falling to an all-time low, with Model 3 falling by 2.0-36000 yuan and Model Y by 2.9-48000 yuan. In addition, before the launch of the new Model 3 in August, the price of the old Model 3 had plummeted to just over 220000.

From the end of October to the present, although Tesla China has raised the prices of Model 3 and Model Y five times in succession, the increase is relatively small each time. As for the reasons for the price increase, Tesla officials did not give an explanation. However, a Tesla salesperson said in an interview with the media: "this price increase compared to the price reduction in August this year actually belongs to a 'price correction', on the one hand, because Tesla's sales are good, on the other hand, because the production line is under great pressure. Production costs are also rising, in our view price increase is an inevitable thing."

But for Tesla's sudden price increase, some people in the industry think: "Tesla increases the price or because it is currently under great profit pressure, eager to restore gross profit margin." According to official financial reports, this year's Q3 Tesla gross profit margin fell below 18 per cent, down 7.2 per cent from 25.1 per cent in the same period last year, while net profit fell 44 per cent. For comparison, Tesla Q1 gross profit margin dropped from 19.3% to 18.2%. This also means that Tesla's gross profit margin has continued to decline in three quarters this year, which is also the lowest gross profit margin in nearly four years.

However, Tesla CEO Elon Musk said on the third-quarter earnings call that Tesla will still try to reduce the price of his car. "the importance of cost cannot be overemphasized. We have to make our products more affordable so that people can afford them," he said. "

Tesla China has raised prices three times in a month, which is obviously inconsistent with Musk's "efforts to reduce prices." For Tesla's "toothpaste" price increase, some netizens think that it is creating a sense of tension that "car prices have been rising all the time", allowing consumers to issue orders to pick up cars as soon as possible.

It is worth mentioning that today, Tesla China also announced on its official Weibo that by the end of the year, it will enjoy up to 18000 if it takes away Model 3Unix Y. Among them, 8000 limited-time insurance subsidy is introduced for Model 3gamma Y rear wheel drive version, which is ordered and delivered from November 28, 2023 to December 31, 2023, and the corresponding car insurance is purchased through a cooperative insurance institution (signing the insurance subsidy commitment), you can enjoy 8000 yuan insurance subsidy. However, this event is not applicable to the certification of used cars. In addition, customers who meet the requirements of the application can apply for a preferential interest rate loan scheme with an annual rate as low as 2.75% for the purchase of Model 3Universe Y from now on and delivery on December 31st (inclusive).

Official figures show that Tesla delivered a total of 1.324 million vehicles worldwide in the first three quarters of this year. In other words, Tesla needs to deliver about 476000 new cars in the fourth quarter to meet the original full-year delivery target of 1.8 million. Whether the price increase will affect delivery remains to be seen.

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