Tesla increases price of its Model Y Performance car in China

Tesla Inc. is raising the price of its Model Y Performance car in China by 10,000 yuan ($1,552), effective immediately, the company announced on Weibo Saturday.

The vehicle’s new price will be 387,900 yuan, according to the statement.

Elon Musk’s electric-vehicle maker reported a rebound in domestic China shipments in August, a bright spot after a torrid few months for the company in one of its key markets that came as the country’s overall auto sales slumped. The company shipped 12,885 units, an increase of almost 50 percent from July, when deliveries plunged 69 percent.

Exports from the company’s Shanghai factory also jumped to 31,379 vehicles, with most destined for Europe, data from China’s Passenger Car Association showed Wednesday.

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