Tesla raises prices of Model Y cars in the US for the first time in two years

TESLA raised the prices of its Model Y cars in the United States on Saturday, according to its website.

The company increased the price of its Model Y premium all-wheel drive and Model Y premium rear-wheel drive by US$1,000 to US$49,990 and US$45,990 respectively.

The company also raised the price of its Model Y Performance all-wheel drive to US$57,990 in the United States, up US$500 from earlier, the website showed.

In August last year, the company raised the price of its most-expensive Cybertruck pickup truck model by US$15,000 in the United States despite softer-than-expected sales and recalls.

Tesla did not provide a reason for the price increase.

The last time the company increased the price of Model Y cars was two years in 2024 ago when it raised the prices of all Model Y cars by US$1,000. REUTERS