Tesla raises prices on some Model 3, Y cars after markdowns – Tesla…

Tesla raises prices on some Model 3, Y cars after markdowns – Tesla…

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EV giant Tesla Inc TSLA has increased prices on certain models in the US, China, Japan and Canada.

What happened: In the US, Tesla increased the prices of the Model Y and Model 3 by $250, according to the company’s website.

model name current price previous price
Model Y AWD $47,240 $46,990
Model Y with long range $50,240 $49,990
Model YP $54,240 $53,990
Model 3RWD $40,240 $39,990
Model 3 performance $53,240 $52,990
Tesla increased the prices of its models in the US by $250.

In China, Tesla’s second-largest market, the electric vehicle maker increased the prices of Model 3 and Model Y by 2,000 yuan, or about $290.

The EV giant also increased prices of its performance crossover Model 3 and Model Y by CAD 300 each in Canada, and prices of the entry-level Model 3 by 37,000 yen in Japan, according to the statement Reuters.

Why it matters: The price increase follows a series of price cuts that began with Price reductions of up to 19.7% in January.

The price drops activated better deliveries in the first quarter for the EV giant and increased pressure on rival EV manufacturers to cut costs to combat competition.

Tesla delivered a total of 422,875 vehicles in the first quarter, up 4.34% from the fourth quarter’s 405,278 units.

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Continue reading: You cannot currently order a Tesla Model S or Model X if you live in those countries



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