Tesla Inc. raised the prices of its vehicles in the US, the third price change in less than a month, adding $1,000 to Model X and Model S base and plaid cars.
(Bloomberg) — Tesla Inc. raised the prices of its vehicles in the US, the third price change in less than a month, adding $1,000 to Model X and Model S base and plaid cars.
The base Model S now costs $88,490, still significantly lower than $104,990 at the start of the year before the Elon Musk-led company started cutting prices globally. The Model X rose to $98,490 and the plaid version to $108,490.
Tesla also lifted prices of its best-selling Model Y by $250 to $47,490, according to its website. Â
Musk Bets the House of Tesla on Low Prices, Razor-Thin Margins
See more on the latest price changes here.
Chief Executive Officer Musk has tinkered with prices at least six times this year, both cutting to chase targets and boost market share, and raising in order to defend shrinking margins.
Prices have risen twice after the company posted its lowest automotive gross profit margin in almost three years. After Tesla’s first-quarter earnings report sent the stock tumbling almost 10% on April 20, the carmaker bumped up the cost of the Model S and X.
Tesla’s shares are up 40% this year.
(Adds context on price rises from 5th paragraph. An earlier version corrected the revised price of Model X in second paragraph.)
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