Tesla Done With Price Cuts? Report Says EV Maker Could Soon Hike Model Y Prices In China
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) is reportedly planning to increase the price of its Model Y vehicles in China in October, according to Car News China. The company may also stop offering a 3,500-yuan ($480) referral incentive to Model Y buyers. The price hike could be between 8,000 yuan to 10,000 yuan ($1,095-$1,370). The Model Y is Tesla's best-selling EV in China. The news of the potential price increase has been positively received by investors, with Tesla's stock rising 6.19% in premarket trading.
September 11, 2023 | 1:03 pm
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POSITIVE IMPACT
Tesla's potential price increase for Model Y in China could boost the company's margins and demand, positively impacting its stock price.
The potential price increase for Tesla's Model Y in China could lead to increased margins and demand for the company, which could positively impact its stock price. The news has already led to a 6.19% increase in Tesla's stock in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100