The electric vehicle giant Tesla Inc (NASDAQ:TSLA) has increased prices of all versions of its SUV Model Y in the United States by $1000, as expected ahead of the first quarter deliveries report.
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What happened
The base version of the Model Y SUV now starts at $44,990 in the US, while the higher-end Long Range and Performance versions are priced at $49,990 and $53,490, respectively.
The price increase was not entirely unexpected, as the company had announced it last month. It also urged customers to book as soon as possible to avoid the impending price increase.
Earlier in the day, the company also increased Model Y prices in China by 5,000 yuan (about $692) for all versions.
Because it is important
Tesla delivered 484,507 vehicles in the final quarter of 2023. Whether various incentives offered to customers and warning of an impending price increase helped boost first-quarter deliveries above fourth-quarter levels we’ll know when the company will announce quarterly delivery numbers.
Expectations, however, are muted, as most expect a rare year-over-year decline from the 422,875 deliveries reported in the first quarter of 2023.
Tesla closed Thursday’s session down 2.25% at $175.79, according to data from Benzinga Pro.
