After 5 days, Tesla announced another price increase.
On November 14th, Tesla announced on its official WeChat account that the price of the Model 3/Y rear wheel drive version will officially increase from now on. The price of the Model 3 rear wheel drive version has increased by 1500 yuan, while the Model Y rear wheel drive version has increased by 2500 yuan. After this round of price adjustment, all models of the Model 3/Y series have increased in price. There may be further adjustments in the future, and queuing up early to book can take the initiative to lock in low prices. Tesla sales personnel told e company reporters that ordering some models before the end of the year can also participate in limited time referral rewards.
Model 3/Y All series models have increased prices
According to Tesla, the new version of the Model 3 rear wheel drive has increased its price by 1500 yuan, with a starting price of 261400 yuan after the adjustment; The Model Y rear wheel drive version has increased by 2500 yuan, with an adjusted starting price of 266400 yuan.
Just a few days ago, Tesla announced a price increase plan. On November 9th, Tesla announced an official increase in the price of the Model 3/Y Long Range Edition. The selling price of the Model Y All Wheel Drive Long Range Edition has been adjusted to 302400 yuan, up 2500 yuan from 299900 yuan previously. The price of the Model 3 Long Range Renewal has been adjusted to 297400 yuan, from 295900 yuan previously, with an increase of 1500 yuan.
It is worth mentioning that before the announcement of this price increase, there were already "spoilers" on the internet, and Tesla sales personnel had warmed up on social media. Tesla also confirmed the price increase news.
Two weeks ago, on October 27th, the price of the Model Y high-performance version was increased by 14000 yuan, and the adjusted price was 363900 yuan. This means that within two weeks, Tesla's Model 3 and Model Y models on sale in the Chinese market have all experienced price increases.
Congratulations to the users who ordered a few days ago. Some models still have benefits such as a 1750 yuan deduction, 90 day EAP, and 7000 points before the end of the year. "The reporter noticed that while the official announcement of the price increase was being made, Tesla sales personnel also updated their Moments. How can I say that I still made a profit? "" Users who have been causing a lot of price cuts, please queue up to pay the price increase fee. "... Netizens also have different opinions about this price increase. Some netizens also expressed that the initial slight increase may be followed by a decrease, which is a "technical adjustment".
Why did the price increase?
On November 14th, a reporter from E Company confirmed the reason for the price increase to Tesla China, stating that the pick-up cycle for the Model Y has been extended to 2-8 weeks, and the pick-up cycle for the new version of the Model 3 is 2-9 weeks. Accompanied by this, the "China Smart Made" model is selling well worldwide. In the first 10 months of this year, the cumulative delivery volume of Shanghai factories reached 771000 vehicles, surpassing the full year of 2022.
Industry insiders have also analyzed that Tesla's increase in Model 3/Y is a price adjustment plan made due to increased profit pressure. At the beginning of this year, Tesla conducted significant price reductions in multiple parts of the world, involving multiple best-selling models. Tesla CEO Musk once said, "I am willing to lower the prices of electric vehicles again during turbulent times, although this will affect the company's gross profit margin, but I am willing to sacrifice gross profit margin for sales growth
The widespread price reduction has led to a decrease in Tesla's gross profit margin, with a gross profit margin of 17.9% in the third quarter, lower than the 18.7% in the first half of the year. According to the financial report, Tesla's total revenue in the third quarter was $23.35 billion, a year-on-year increase of 9%, and its gross profit was $4.178 billion, a year-on-year decrease of 22%.
Regarding this, Musk stated that with the continuous increase in loan interest rates, Model 3 and Model Y, which focus on the people-oriented market, are becoming unaffordable to users. Tesla needs to continue to lower prices to reduce users' monthly repayment pressure, so that more people can afford it, "Musk said.
It is worth noting that at the end of the year, the car market will enter the stage of annual target sprint. Tesla has abnormally increased its prices, while other car companies have added several best-selling models to the promotion. On November 1st, BYD launched promotional activities for five of its models, with discounts ranging from 5000 yuan to 18000 yuan; On November 2nd, Zero Run announced a price reduction for all models, with a maximum financial discount of 10000 yuan per unit. Industry analysis suggests that price competition between car companies indicates an intensification of industry competition, and at the same time, promotions will provide stable support for the car market at the end of the year, helping the car market's sales hit new highs.
