Tesla Inc. raised U.S. prices for its Model Y crossover by $250 on Tuesday.
Thank you for reading this post, don't forget to subscribe!The starting price for a Model Y is now $47,740, according to Tesla’s website. Prices for the “long-range” and “performance” versions remained the same.
After cutting prices on its vehicles earlier this year to boost sales, Tesla has been tweaking prices higher where it can.
It’s the third time since the beginning of May that Tesla
TSLA,
has raised prices for the Model Y; both previous hikes were also in $250 increments. In mid-April, ahead of its quarterly earnings report, Tesla cut Model Y prices by $3,000.
In its earnings letter to shareholders in April, Tesla said pricing will continue to “evolve upwards or downwards, depending on a number of factors.”
In the first quarter of the year, the Model Y surpassed Toyota’s RAV4 and Corolla models to become the world’s best-selling car, according to analyst data from Jato Dynamics published by Motor1 — the first time an electric vehicle has held that title.
Tesla shares have risen for a company-record 13 straight trading sessions, and on Tuesday notched their best close since September. The stock is up 110% year to date. The stock was rising 2% in premarket trading on Wednesday.
