EV giant Tesla Inc TSLA has increased prices on certain models in U.S., China, Japan and Canada.
What Happened: In the U.S., Tesla increased both Model Y and Model 3 prices by $250, as per the company website.
| Model Name | Current Price | Previous Price |
| Model Y AWD | $47,240 | $46,990 |
| Model Y Long Range | $50,240 | $49,990 |
| Model Y P | $54,240 | $53,990 |
| Model 3 RWD | $40,240 | $39,990 |
| Model 3 Performance | $53,240 | $52,990 |
In China, Tesla’s second biggest market, the EV maker hiked Model 3 and Model Y prices by 2,000 yuan or about $290.
The EV giant also raised the prices of its Performance crossover Model 3 and Model Y by C$300 each in Canada and the prices of entry-level Model 3 by 37,000 yen in Japan, according to Reuters.
Why It Matters: The price hike comes after a slew of price cuts which commenced with price cuts of up to 19.7% in January.
The price cuts enabled better first-quarter deliveries for the EV giant and added pressure on rival EV makers to cut costs to battle competition.
Tesla delivered 422,875 vehicles in total in the first quarter, 4.34% higher than its fourth-quarter tally of 405,278 units.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Read More: You Can’t Order A Tesla Model S Or Model X For Now If You Live In These Countries
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
