Tesla has raised car prices in the US, China, Canada, and Japan. Elon Musk warned that the company would change its car prices, though they are still lower than at the beginning of 2023.
Tesla has raised the prices of its vehicles in key markets. The changes affected the USA, China, Canada, and Japan. It is worth noting that the price changes are not big and the cars are still sold at lower prices than at the beginning of the year.
In China, Tesla Model 3 now costs RMB 231,900 (about $33,550). Previously, the car cost RMB 229,900. All versions of Model Y also cost RMB 2,000 (about $290) more. The price for the basic version starts at RMB 263,900.
In the US, Model 3 and Model Y cars now cost $250 more than previously. Model 3 starts at $40,240 and Model Y starts at $47,240.
During the Q1 2023 Earnings Call, Elon Musk said the company will focus on high sales volumes, not margins. He warned that car prices would change with that in mind. Tesla changes prices in response to the market situation, so we will see price adjustments repeatedly in the future.
Tesla's initial price cuts earlier this year came amid an uncertain macroeconomic environment. In such market conditions, consumers prefer not to make large purchases, which include cars. However, Tesla made such a tempting offer that many consumers could not refuse.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.