(Bloomberg) -- Tesla Inc. raised the prices of two Shanghai-made models for the second time in just over a month amid soaring Chinese demand, the South China Morning Post reported.
The carmaker announced on Friday a 3.9% increase in the price of its entry-level Model 3 to 265,652 yuan ($41,795) after subsidies, the paper said. The basic edition of the Model Y sport utility vehicle will see a 7.5% jump to 301,840 yuan and will cease to qualify for government subsidies for new energy vehicles below 300,000 yuan, according to the SCMP.
Tesla did not provide a reason for the new price increases, which came after a Nov. 24 hike, the report said.
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