Tesla to raise US prices for Model Y vehicles by $1,000 on April 1

FILE PHOTO: Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photo

Tesla on Friday said it will increase prices for all Model Y cars in the United States by $1,000 on April 1, the automaker said on its website.

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

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

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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 U.S. 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,” CEO Elon Musk said in February, replying to a post on X from Tesla saying prices would go up in March.