Tesla raises Model 3 prices

Tesla has quietly made minor upgrades to the long-range versions of its Model 3 electric sedan and Model Y SUV in China. According to Tesla China's website, the price of the long-range all-wheel-drive version of the Model 3 has been increased by 10,000 yuan ($1,400) to 285,500, representing a 3.63 percent increase from the previous price of 275,500 RMB for this variant. The CLTC range of the long-range Model 3 has been increased from 713 kilometers to 753 kilometers, and the 0-100 km/h acceleration time has been reduced from 4.4 seconds to 3.8 seconds. The change appears to be Tesla making the previously optional Acceleration Boost package, which cost 14,100 yuan, a standard feature for the long-range Model 3. Tesla began offering the Acceleration Boost option in China in 2020, which will also increase the Model 3 long-range four-wheel-drive option. The all-wheel-drive version’s 0-100 km/h acceleration time has been reduced from 4.6 seconds to 4.1 seconds after the upgrade. In addition, the delivery wait time for the long-range Model 3 in China has been reduced from the previous 3-5 weeks to the current 1-3 weeks. The other two versions of the Model 3 in China, the entry-level rear-wheel-drive version and the performance all-wheel-drive version, have not made any changes to their prices or specifications, with starting prices remaining at RMB 235,500 and RMB 339,500, respectively. Waiting times have also remained unchanged, at 1-3 weeks and 8-10 weeks, respectively. The range of the long-range version of the Model Y has also been increased to 750 kilometers from the previous 719 kilometers. The starting price of this variant remains at 313,500 yuan, while the 0-100 km/h acceleration time is 4.3 seconds. While no changes have been made to the basic specifications of the entry-level rear-wheel-drive Model Y in China, the starting price remains at 263,500 yuan and the CLTC range remains at 593 kilometers. The latest delivery waiting times for both versions of the Model Y are 1-3 weeks, compared to 2-4 weeks for the entry-level version and 3-5 weeks for the long-range version. In addition to the minor upgrades for the Model 3 and Model Y, Tesla has maintained its previous purchasing incentives in China, including an 8,000 RMB paint fee discount, an 8,000 RMB insurance subsidy, and five-year interest-free financing for select variants.