Tesla's First US Price Hike Of 2024: Model Y 7-Seat Option Surges By $500

Tesla Inc TSLA, has increased the price of the Model Y Long Range’s 7-seat option by $500.

What Happened: The Model Y Long Range offers two seating configurations: the standard five-seat layout, included in the base price, and the optional seven-seat interior, which now comes with a price tag of $3000. 

This represents a 20% increase from the previous cost of $2500.

The seven-seat Model Y features third-row seating for two, providing convenient access to the rear seats. Additionally, the third-row seats can be folded to create additional cargo storage space.

Why It Matters: Notably, this adjustment marks the first price change for any Tesla vehicle in the U.S. since the beginning of 2024.

Conversely, in China, Tesla implemented price reductions on the Model 3, with decreases of up to 6%, and on select versions of the Model Y, with reductions of up to 2.8%, on Thursday.

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