Tesla on Friday (Mar 15) said it will increase prices for all Model Y cars in the United States by US$1,000 on Apr 1, the automaker said on its website.

“Prices will increase by US$1,000 for all Model Y trims on Apr 1,” Tesla said on its website.

The company on Mar 1 also raised the prices of its Model Y rear-wheel drive and long-range vehicles by US$1,000 to US$43,990 and US$48,990, respectively.

Tesla did not make it explicitly clear if the April increase would come on top of the March increase for the rear-wheel and long-range models.

Tesla had temporarily cut prices of some of its Model Y cars in the US in February, nearly a month after it slashed prices across Europe and China.

“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” chief executive officer Elon Musk said in February, replying to a post on X from Tesla saying prices would go up in March. REUTERS

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL