Tesla (TSLA) hikes US prices of select Model Y vehicles

Tesla (NASDAQ: TSLA) raised prices of select Model Y vehicles in the United States by $1,000 on Friday, the company’s official website shows.

The adjustment affects the Model Y rear-wheel drive and long-range models, now priced at $43,990 and $48,990 respectively.

The pricing for the Model Y Performance variant and other models remains unchanged.

Shares of TSLA were down 0.4% in premarket trading.

This move follows a temporary price reduction on some Model Y vehicles in the U.S. that lasted until February 29, which itself came shortly after the EV giant reduced prices across its lineup in Europe and China.

Earlier in January, Tesla signaled a potential slowdown in sales growth for the year, attributing this to its focus on developing a next-generation electric vehicle, internally referred to as "Redwood."

This latest increase in prices could be seen as an effort to bolster Tesla's profit margins, which have been impacted by ongoing competition and previous price cuts.

By Vahid Karaahmetovic

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