Tesla sparks price surge in China for the third time in a month, amidst production overdrive

In a rapid turn of events, Tesla has once again upped the ante, raising prices for its Model 3 and Model Y's rear-wheel-drive editions in China.

the prices of Tesla Model 3 Rear-Wheel Drive Refreshed Version and Model Y Rear-Wheel Drive have been raised by 1,500 yuan and 2,500 yuan, respectively, with the same percentage increase as the long-range versions last week.

This comes hot on the heels of last week's long-range versions' price hike. Despite the recent increases, the current prices are still lower than the initial 2023 reductions.

Tesla attributes the surge to escalating costs, with Q3 gross profit margins dropping to a four-year low. Amid production surges in the Shanghai Gigafactory, Tesla maintains a confident stance. As the company juggles demand, supply, and expansion, the consequences of these price shifts on delivery volumes remain uncertain.