Tesla increases prices for the Model S, Model X, and Model Y for the US market mere weeks after cutting prices
Just weeks after drastically dropping prices in a move to both improve its position against its competitors and qualify for the new US tax incentives, Tesla has bumped up the prices on the Model Y, Model X, and Model S, according to InsideEVs. It's unclear why Tesla has decided to increase the prices, but speculation indicates that it may be due to demand for the vehicles in question.
The Model X and S are the worst hit by these price increases, seeing prices jump up by US$1,000. This increase brings the base Model Y up to a price of US$47,490, while the Model X and Model S now start at US$98,490 and US$88,490, respectively. It seems as though Tesla wants to preserve the Model 3's value position, or is waiting to see how things play out with the new Model 3 Long Range AWD before shaking things up further.
The Model Y AWD's price only increased by $250, meaning there is now a US$2,500 price difference between the Model Y AWD, with 330 miles of range, and the newly re-introduced Model 3 Long Range AWD, with an estimated "325+" miles of range.
Perhaps most importantly, the MSRP changes don't affect the Model Y's eligibility for the US$7,500 tax rebates that are such a popular selling point for Tesla. As the EV space continues to heat up thanks to changing consumer attitudes and regulatory pressure, we'll likely see additional price changes, whether they be cuts or increases.