Tesla has increased the price of the Model 3 and Model Y in overseas markets China and Canada.
In China, the price of the entry-level Model 3 has increased from ¥250,900 ($A54,523 converted) to ¥255,652 ($A55,555), while the entry-level Model Y has increased from ¥276,000 ($A59,977 converted) to ¥280,752 ($A61,101 converted).
Performance and Long Range variant prices remained the same.
In Canada, the price for the Model 3 went from $CA54,990 ($A60,327 converted) before on-roads to $CA59,990 ($A65,812), and Long Range and Performance variants also increased by $CA2,000. The price rise means that for new orders, drivers will not be eligible for the Canada-wide iZEV rebate of up to $CA5,000.
The Model Y, which is only available in the Long Range and Performance variants, increased $CA2,000 to $CA76,990 ($A84,462 converted) and $CA1,300 to $CA85,290 ($A93,567) respectively.
In China both vehicles are still eligible for the China ¥11,088 ($A2,409) “new energy vehicle” (NEV) rebate, for which the threshold is ¥300,000 after taxes are added.
When Tesla Model 3s began rolling off the factory floor of its Shanghai plant – the first wholly foreign-owned auto factory in China – it was priced at ¥299,050.
The price increases are a result of the increasing supply chain shortages, South China Morning Post reports.
The Hong Kong-based news site quoted David Zhang, a researcher for the automotive industry at the North China University of Technology: “A small price increase could deter some budget-sensitive Chinese drivers from ordering its cars as a way of easing pressure on the Shanghai factory,” he said.
“Tesla has the tradition of adjusting prices to strike a balance between supply and demand.”
The price of the entry-level Model 3 before on-roads remains at $A59,900, after a series of prices drops earlier in 2021.
Article updated with full Canadian EV rebate of $5,000.
