Tesla Model Y Price Hike Signals Market Shift

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Tesla has made an unexpected move by increasing the price of its popular Model Y, deviating from its previous trend of offering discounts. Starting next month, the Model Y will see a $1,000 price hike, coinciding with the release of the updated version codenamed Juniper.

Announced on Tesla’s official website, the price increase will take effect on April 1 for all three variants of the Model Y, eligible for the $7,500 federal tax credit in the United States. This adjustment impacts markets globally, including China and Europe.

Presently, the base Model Y, featuring a single-motor rear-wheel-drive configuration, starts at $43,990 before tax credits. With the federal incentive, the cost was reduced to $36,490, offering 295 horsepower and 310 pound-feet of torque, achieving 0-60 mph in 6.6 seconds.

The mid-tier variant, priced $5,000 higher, adds motor and power, while the top-tier Model Y AWD Performance starts at $52,590, boasting 456 horsepower and 471 pound-feet of torque, with a blistering 0-60 mph time of 3.7 seconds.

This price adjustment follows a previous increase in March, indicating a departure from Tesla’s previous discounting strategy. Additionally, Tesla is offering incentives such as free Supercharging miles and trade-in deals, except for the Cybertruck, which is subject to specific resale policies enforced by the company.

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