Tesla Increased Price for Model 3/Y in the Chinese Market

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We learned from Tesla (China)’s official website that the subsidized price of the Model Y rear-wheel drive China version was adjusted from the previous 280,752 yuan to 301,840 yuan, an increase of 21,088 yuan (~US$3,319). After subsidies, the price of the Model 3 rear-wheel drive China version will be adjusted from 255,652 yuan to 265,652 yuan, an increase of 10,000 yuan(US$1,574). This price fluctuation is expected to be related to the cancellation of the national subsidy in 2022.


Tesla Increased Price for Model 3/Y in the Chinese Market
Tesla Increased Price for Model 3/Y in the Chinese Market

Prior to this, the China’s Ministry of Finance has issued relevant notices stating that the implementation period of the new energy vehicle promotion and application of fiscal subsidy policies has been extended to the end of 2022. The subsidy standards for 2020-2022 will be reduced by 10%, 20%, and 30% on the basis of the previous year. 2022 will be the last year for the promotion and application of financial subsidies for new energy vehicles.

However, so far, the Ministry of Finance has not issued a notice on the promotion and application of fiscal subsidy policies for new energy vehicles in 2022, and it is expected that the relevant notice will be announced in the near future.