homeauto NewsTesla hikes prices in the US days after slashing prices for sixth time

Tesla hikes prices in the US days after slashing prices for sixth time

Tesla hikes prices in the US days after slashing prices for sixth time
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By CNBCTV18.com Apr 21, 2023 12:10:10 PM IST (Published)

According to the website, Tesla's Model S Plaid and Model X Plaid are currently priced at $107,490, up from $104,990 earlier. The price of the Model X has been hiked 2.6 percent to $97,490 and Model S price has increased 2.9 percent to $87,490.

Elon Musk-led Tesla has hiked prices for its Model S and X premium electric vehicles in the US. The prices, however, are still 20 percent down year to date. Earlier this week, the auto major slashed the prices of few of its Model 3 and Model 7 vehicles by $3,000 in the US, the sixth price cut in the US in 2023.

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Tesla has been on a price cut spree in order to drive volumes.
According to the website, Tesla's Model S Plaid and Model X Plaid are currently priced at $107,490, up from $104,990 earlier. The price of the Model X has been hiked 2.6 percent to $97,490 and Model S price has increased 2.9 percent to $87,490.
Musk said repeatedly that Tesla would focus on bringing prices down to drive demand and that it had seen success in sparking orders with global discounts introduced in January.
Tesla had cut prices on both versions of the Model S and Model X by $5,000 earlier this month, days after reporting deliveries of these vehicles slumped by 38 percent in January to March.
As per China’s Passenger Car Association, the carmaker shipped a total of 88,869 vehicles from the Shanghai factory in March.
For the quarter ended March 2023, Tesla reported a decline of 24 percent year-on-year.
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