Tesla Increased The Prices Of Model 3 And Model Y Produced In China.

#Tesla (TSLA) announced in a statement on China's social media platform Weibo (WB) that the electric car manufacturer will increase the prices of Model 3 and Model Y cars produced in Shanghai.

According to the post, the Tesla Model 3 purchase price has been increased by 1,500 yuan (US$206), an increase of 0.6%, and the new price is 261,400 yuan. The price of the entry-level version of #ModelY was determined as 266,400 yuan, an increase of 0.95% (2,500 yuan).

Before this last increase, two more increases had been made in the past three weeks. Tesla first increased the price of the Model Y performance version by 4% on October 27. Then on November 9, long-range versions of both the Model 3 and Model Y saw increases of up to 0.8%.

Grace Tao, Tesla's communications and government affairs manager in China, commented that the company frequently regulates the prices of its domestically produced vehicles in response to production expenses.

Tesla's Shanghai Gigafactory (a very large factory) supplied 28,626 vehicles to customers in mainland China in October, a 34.2% drop compared to the previous month, according to data from the China Passenger Car Association (CPCA). This decline followed a 32.8% decline in September.

According to the CPCA, Tesla delivered 378,800 vehicles in China from January to October, a 62.2 percent increase year-on-year.

TSLA shares were up 1.78% in pre-market trading.
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