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Giant EV Tesla (NASDAQ:TSLA) has raised prices for its Model Y in the US, with the long-range version increasing by $1,500 to a total of $54,990, and the Performance variant adding another $1,000 to list at $57,990.
The move comes 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 the $7,500 consumer tax credit by expanding the definition of a sport utility vehicle under the Reduction of Inflation Act. SUVs costing up to $80,000 are now eligible for the credits.
Tesla (TSLA) stock price surged in January, with research reports suggesting high demand for the electric vehicle maker’s Model Y in the US.
Just three weeks ago, Tesla (TSLA) slashed prices on some of its Model Y trims to boost demand and make them eligible for the $7,500 electric vehicle tax credit in the Cut Inflation Act. Tesla’s (TSLA) fourth quarter figures also showed record deliveries of 405,278 vehicles.
