Recently, multiple Tesla sales personnel posted a forecast on WeChat Moments that Model Y is about to increase in price, stating that "Model Y is about to increase in price, which is a continuous adjustment after the high-performance price increase of 14000 yuan
WeChat Moments
On November 8th, Tesla confirmed the news that Model Y was about to increase in price during an interview with a reporter from the Daily Economic News. On October 27th, after the price of the Model Y high-performance version was increased by 14000 yuan, we do plan to adjust the prices of other versions of the Model Y. In addition, the Model 3 is also about to increase in price, "Tesla staff replied to reporters.
A Tesla salesperson told reporters that the prices of the Model Y and Model 3 domestically produced models will begin to be adjusted on November 9th.
It is understood that the new Tesla Model 3 will start pre-sale on September 1st and domestic delivery on October 26th; The new Model Y will be delivered during the National Day holiday, when Tesla's slogan was "improved performance and configuration, unchanged price".
At present, the two models on sale for the new Tesla Model 3 are the standard range version with a starting price of 259900 yuan and the long range version with a starting price of 295900 yuan; The starting prices for the Model Y rear wheel drive standard version and long range version are 263900 yuan and 299900 yuan, respectively.
However, Tesla has not responded to specific price adjustments, price increases, or reasons for the two domestically produced cars (Model Y and Model 3). Tesla's pricing system has always been fair and transparent, and the Model Y after the price increase remains the best product in the same price range in the domestic market, "Tesla said.
It is worth noting that before this, Tesla had just completed the price increase for the Model Y high-performance version. On October 27th, Tesla's official Weibo account announced that the price of the domestically produced Model Y high-performance version was increased by 14000 yuan, with an adjusted price of 363900 yuan. At that time, Tesla once told reporters that only the domestic Model Y high-performance version had a price increase, while the prices of the rear wheel drive standard version and the long range version of the Model Y remained unchanged.
In the view of Cui Dongshu, Secretary General of the National Passenger Car Market Information Joint Conference, Tesla's move to increase the prices of Model Y and Model 3 is a price adjustment plan made due to increased profit pressure.
Tesla's third quarter report shows that in the third quarter of this year, Tesla's revenue was approximately $23.4 billion, a year-on-year increase of 9%, lower than Wall Street's expected $24.3 billion, the slowest growth rate in three years; The net profit was $1.853 billion, a year-on-year decrease of 44%.
Moreover, due to the large-scale price cuts during the year, Tesla's gross profit margin has continued to decline. In the third quarter, its gross profit margin was 17.9%, a decrease of 0.3 percentage points from 18.2% in the second quarter, setting a new four-year low. Tesla plans to alleviate the decline in gross profit margin by raising the prices of two domestically produced cars, but this will put some pressure on it to achieve its annual sales target of 1.8 million vehicles, "Cui Dongshu believes.
The latest data released by the China Association of Automobile Manufacturers shows that Tesla's Shanghai Super Factory is expected to deliver 72100 new cars in October, a decrease of 2.6% compared to the previous month. Based on this calculation, in the first 10 months of this year, Tesla's Super Shanghai factory delivered a total of 771000 new cars. As of the end of September 2023, Tesla has delivered a total of 1.324 million new cars globally, with a sales target completion rate of approximately 73.56% for the entire year.
Tesla CEO Musk has stated that the company will maintain its delivery target of 1.8 million vehicles in 2023. This means that Tesla needs to deliver at least 476000 new cars in the fourth quarter of this year to meet its expected targets.
