After recent cuts, Tesla lifts Model Y prices in the U.S.
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EV giant Tesla (NASDAQ:TSLA) has raised the prices of its Model Y in the U.S., with the Long Range version increasing by $1,500 to a total of $54,990, and the Performance variant tacking on another $1,000 to list at $57,990.
The move comes in after the Biden administration introduced measures to make crossover SUVs qualify for the newly revamped electric vehicle tax credit. The change expands the number of consumers who can take advantage of $7,500 consumer tax credit by broadening the definition of how a sport-utility vehicle is defined under the Inflation Reduction Act. SUVs that cost up to $80,000 can now receive the credits.
January saw a surge in Tesla (TSLA) stock price, with research reports suggesting high demand for the EV maker's Model Y in the U.S.
It was only three weeks ago that Tesla (TSLA) slashed prices on some of its Model Y versions to boost demand, and to make them eligible for the $7,500 electric-vehicle tax credit in the Inflation Reduction Act. Tesla's (TSLA) Q4 figures also showed record deliveries of 405,278 vehicles.