Tesla doubles prices again

  This time, the “Wait Party” lost again.
  ”In the past, buying a car was obviously a ‘wait for the party’ to win. The later you buy it, the better the configuration, the lower the price. Why has everything changed now?” Zhang Xuan (pseudonym) reluctantly complained in the Tesla exchange group. “Who has the Model Y index? If you don’t want it, you can transfer it to me.”
  Not long ago, Zhang Xuan finally ranked in the Beijing new energy vehicle index, but what makes him unhappy is that the price of his favorite Model Y long-range version is expensive. rose a lot.
  On June 17, Tesla’s official website showed that the price of Tesla’s models has risen again, of which the current price of the Model Y long-range version has reached 394,900 yuan. Zhang Xuan’s friend bought the same model at the beginning of last year. It was only 339,000 yuan at that time. Now the same car is more than 50,000 yuan more expensive. Zhang Xuan couldn’t accept it.
  Affected by the rising prices of raw materials and batteries, new energy models have experienced a round of general price increases this year. On Tesla’s first-quarter earnings conference call, Musk said that Tesla would not raise prices in the near future because the pricing at the time already took into account expectations for cost growth.
  But obviously, a new round of price hikes came unexpectedly.
  Tesla China’s official website shows that the current domestic delivery cycle of the Model Y long-range version is as long as 20 to 24 weeks. In other words, it is now scheduled to pick up the car by the end of the year. In the U.S. market, the delivery time of the Model Y long-range version has been scheduled for January to April 2023.
  Obviously, for Tesla, which is hard to find a car, the continued increase in prices has not affected actual sales. Data shows that from January to May this year, Tesla China delivered a total of 215,851 vehicles, a year-on-year increase of more than 50%. This was even when the Shanghai Gigafactory was suspended for three weeks due to the epidemic.
  In fact, the price adjustment of Tesla’s domestic models is not unexpected. On the evening of June 15, Tesla took the lead in updating the prices of various models on the US official website. Judging from the law of Tesla’s previous price increases, the US market rose first, and the Chinese market followed. As early as March this year, Tesla achieved a “three consecutive rises” in seven days.
  Tesla’s price hike is not an isolated case. Affected by the rising prices of raw materials and batteries, BYD, Xiaopeng, Nezha and other new energy vehicle companies have announced price increases.
  The increase in the price of new cars has also increased the value of used cars of some hot-selling new energy models. The car e-estimate car value retention rate report shows that the Tesla Model Y value retention rate exceeds 93%, and the Xiaopeng P7 reaches 83.89%, which has broken the saying that “new energy models do not retain value”.
  However, the price increase of new energy vehicles has not affected terminal sales as a whole. According to data from the China Passenger Car Association, the retail sales of new energy passenger vehicles in May were 360,000 units, a year-on-year increase of 91.2% and a month-on-month increase of 26.9%; domestic retail sales from January to May were 1.712 million units, a year-on-year increase of 119.5%, forming a “W-shaped” trend. The domestic retail penetration rate of new energy vehicles was 26.6% in May, an increase of 15 percentage points from the 11.6% penetration rate in May 2021.
  It is worth noting that the upward trend in raw material prices has not ended.
  Although Tesla did not disclose the reasons for this price increase, factors such as soaring raw material prices, chip shortages, tight supply of power batteries, and manpower shortages caused by the epidemic still exist this year, and it is reasonable to adjust prices again.
  The International Energy Agency believes that the outbreak of demand has put huge pressure on the supply chain, and the repeated epidemics and the conflict between Russia and Ukraine have further intensified the pressure. The data showed lithium prices in May were seven times higher than at the beginning of 2021, cobalt prices more than doubled and nickel prices almost doubled. According to the statistics of Guotai Junan, affected by the prices of lithium phosphate, lithium hexafluorophosphate, battery accessories and other materials, the cost of lithium iron phosphate and ternary battery cells has increased by 18% and 20% respectively from January to May (up 57% and 58% respectively last year) .
  Bosch, the world’s largest auto parts supplier, said that rising raw material prices, especially the impact of the Russian-Ukrainian conflict, have exacerbated the already high production costs, and the pressure on performance has increased significantly.
  The global semiconductor giant TSMC recently announced that the prices of its products will rise across the board from 2023. Battery manufacturers represented by CATL believe that the price transmission in the first quarter is not timely, and the main price increase for car manufacturers will be reflected in the second quarter. A senior executive of a new energy vehicle company revealed that the battery factory has begun to negotiate with the OEM, and it is expected that the price of power batteries will increase by 40% in the second quarter.
  It is worth noting that Lian Yubo, executive vice president of BYD Group, revealed in an interview recently that BYD will provide Tesla with battery products. In the eyes of industry insiders, this news has certain credibility. At present, Tesla’s largest power battery supplier in China is CATL. If BYD can become a supplier, it can not only reduce battery procurement costs, but also speed up battery supply.
  Consulting firm E Source believes that the continuous expansion of electric vehicle production capacity will indeed lead to a decline in battery prices in the initial stage, but a rebound in prices will follow. E Source expects battery prices to soar 22% from 2023 to 2026, peaking at $138 per kWh, before steadily declining after 2031 to as low as $90 per kWh.
  That said, 2026 will usher in the peak of EV prices. If this statement is true, it means that consumers may not be able to wait for the price of electric vehicles to drop for a long time.

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