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Tesla Raises Prices of Model Y High-Performance Cars in China, Here’s Why

News Snapshot:

Tesla Inc (NASDAQ: TSLA) announced Saturday that it will increase the value of its Model Y Performance car in China by $1,552. What happened: According to the report announced on Chinese microblogging Weibo, the new value of the Model Y will be 387,900 RMB. Tesla reported an uptick in domestic shipments from China in August. The company shipped 12,885 units, an increase of nearly 50% since July, when deliveries fell 69%. In March, the company raised the value of the Model Y by about $1226, the value increase announced through Grace Tao, Tesla’s vice president of external affairs. The Model…

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