Tesla has been facing a couple of issues in the electric car market and the company is readjusting its sales plan. A few weeks ago, Tesla activated global price cuts in multiple markets including the U.S. This made many of its models way cheaper than their initial prices. Of course, true to Tesla’s expectation, the demand for its cars exploded. However, we all knew that these price cuts will not remain for a long time. After the initial price cut, the price of the Model Y long-range version increased by $1,500 to US$54,990.
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In addition, the company also increased the price of the high-performance Tesla Model Y by $1,000 to $57,990. However, despite the price rise, the Tesla Model Y is still much cheaper than it was a year ago. Prior to a huge price cut in January, the crossover SUV was listed on the company’s official website for $65,990.
Tesla Model Y remains one of the best-selling cars in the U.S
Even at a price much higher than other vehicles, the Tesla Model Y was already among the best-selling cars in the US last year. The all-electric crossover’s sales are probably going to rise greatly this year due to its cheaper pricing.
With Model 3 starting at just 229,900 yuan and Model Y starting at just 259,900 yuan, mainland China currently has the lowest prices for Tesla Model 3 and Model Y in the entire world. Checking the prices in more detail reveals that the standard rear-wheel drive Model Y in the Chinese market costs 259,900 Yuan, the dual-motor all-wheel drive long-endurance version costs 309,900 Yuan, and the high-performance version costs 359,900 Yuan.
Tesla cut its prices so low that its selling price in China hit an all-time low. For example, the starting price of the Model 3 and Model Y were both slashed by 36,000 and 29,000 yuan, respectively. Those who bought the Tesla cars shortly before the price cuts feel cheated. However, there is nothing Tesla will do about it.