On Friday, Tesla's website reported that they have increased the prices for its Model S and Model X vehicles sold in China, following on other price increases for other models in recent days.
Elon Musk's car company increased prices across all models and versions by 2 749 Chinese Yuan (about $19,000).
Model S now costs 808 900 Yuan compared to 789 900 yuan before. Model S Plaid now costs 1,028,900 Yuan as opposed to 1,009 900 Yuan before. And Model X costs 898.900 Yuan as opposed to 879 900 yuan previously.
Tesla recently increased their Model 3 and Model Y prices in China as well as other markets like the United States.
Tesla has recently reduced their prices in order to drive greater demand.
Musk announced during an earnings conference call in April that Tesla would focus on increasing volumes rather than margins and anticipated that "over time it would generate significant profit by autonomy".
Tesla regularly adjusts its prices to reflect market conditions.
Tesla appears to be maintaining higher Model S and Model X prices in China in order to compete in the premium segment of China's electric vehicle market.
China is home to established firms like BYD and newcomers such as Nio, both increasing competition with Tesla in China. Tesla does not face major competition here for their Model S and Model X vehicles.
Elon Musk's car company increased prices across all models and versions by 2 749 Chinese Yuan (about $19,000).
Model S now costs 808 900 Yuan compared to 789 900 yuan before. Model S Plaid now costs 1,028,900 Yuan as opposed to 1,009 900 Yuan before. And Model X costs 898.900 Yuan as opposed to 879 900 yuan previously.
Tesla recently increased their Model 3 and Model Y prices in China as well as other markets like the United States.
Tesla has recently reduced their prices in order to drive greater demand.
Musk announced during an earnings conference call in April that Tesla would focus on increasing volumes rather than margins and anticipated that "over time it would generate significant profit by autonomy".
Tesla regularly adjusts its prices to reflect market conditions.
Tesla appears to be maintaining higher Model S and Model X prices in China in order to compete in the premium segment of China's electric vehicle market.
China is home to established firms like BYD and newcomers such as Nio, both increasing competition with Tesla in China. Tesla does not face major competition here for their Model S and Model X vehicles.
