On November 14, Tesla's official microblog announced that the starting price of Model 3 and Model Y rear wheel drive models in Chinese Mainland would be increased by 1500 yuan to 2500 yuan.
This is Tesla's third price increase in 20 days, following October 27th and November 9th. After this round of price increase, the starting prices of the Tesla Model 3/Y series have all increased (the Model 3 mentioned in the article is a new version).
Tesla has risen three times in a row
According to Tesla's latest news on November 14, the starting price of Model 3 and Model Y rear wheel drive models in Chinese Mainland has been raised. The starting price of the new model 3 rear wheel drive has been increased by 1500 yuan to 261400 yuan from 259900 yuan. This is the first price increase since the launch of the new model 3 rear wheel drive.
At the same time, the starting price of the Model Y rear wheel drive version has been increased by 2500 yuan from 263900 yuan, and the starting price after the price increase is 266400 yuan.
Tesla Official WeChat
It is worth noting that the price increase on November 14th was Tesla's third price increase in nearly 20 days. After this round of price adjustment, all models of the Model 3/Y series have experienced price increases.
On November 9th, Tesla just raised the starting price of the Model 3/Y Long Range model. The Model 3 Long Range version has been increased by 1500 yuan, with a starting price of 297400 yuan; The Model Y Long Range Edition has increased its price by 2500 yuan, with a starting price of 302400 yuan.
On October 27th, Tesla announced a price increase of 14000 yuan for the Model Y high-performance version, with a starting price of 363900 yuan.
Tesla's recent frequent price increases may be related to performance pressure. At the beginning of this year, Tesla's significant price reduction of domestically produced Model 3 and Model Y sparked a "price war" in the car market, which seemed to have become the main theme of this year's new energy vehicle market. Recently, several car companies have also launched price reductions to push towards their annual sales targets, while Tesla has gone against the normal trend of rising three times in a row.
Due to factory shutdowns and upgrades, as well as previous price reductions, Tesla's performance and delivery in the third quarter of this year were not ideal. Tesla achieved revenue of $23.4 billion in the third quarter, a year-on-year increase of 9%, slightly lower than the $24.927 billion in the second quarter; Net profit of 1.853 billion US dollars, a decrease of 31.4% month on month and 44% year-on-year; The gross profit margin continued to decline to 17.9%, lower than the 18.2% in the second quarter.
Industry insiders have stated that Tesla's announcement of price increases is more about improving gross profit and operating conditions.
The annual delivery target is expected to be achieved
The Tesla China official website also shows that the pick-up cycle for Model Y has been extended to 2-8 weeks, and the pick-up cycle for the updated Model 3 is 2-9 weeks.
Analysts have stated that Shanghai's super factory continues to supply multiple countries in Asia Pacific and Europe, and has already locked in the top sales figures in multiple markets in advance. It is not ruled out that the delivery cycle may continue to be extended.
In the first three quarters of this year, Tesla has delivered a total of over 1.324 million electric vehicles, exceeding the total of 1.314 million in 2022. According to the annual delivery target of 1.8 million vehicles, Tesla needs to deliver 476000 vehicles in the fourth quarter.
According to data from the China Association of Automobile Manufacturers, the cumulative delivery volume of Tesla's Super Shanghai factory in the first 10 months of this year reached 771000 vehicles, exceeding the full year of 2022. Among them, Model Y has consistently ranked first in passenger car sales in China so far this year.
The reporter noticed that Tesla has already kicked off the "delivery season" of its new products. In addition to the updated and re evolved Model Y of Model 3, which has been delivered to domestic and foreign car owners, the highly anticipated Cyberrack is also scheduled to undergo its first batch of deliveries at a super factory in Texas by the end of November. The third quarter report shows that the order volume of Cyberrack has exceeded 1 million vehicles.
At the same time as Tesla's price increase, it has also launched promotional activities. Before December 31st, car buyers can enjoy a final payment deduction of 1750 yuan and a 90 day EAP trial benefit if they place an order for Model Y/S/X through recommendation and collect the car within the validity period; As a referrer, car owners can receive a reward of 7000 points, redeem for overcharged mileage, and more.
Dongfang Securities stated that after Tesla's new car delivery in the fourth quarter, it is expected to drive global and Chinese market sales up month on month.
