Tesla
has implemented another round of price raises across most of its electric-vehicle portfolio in the U.S. The increases are small but could help quell shareholder concerns about the company’s shrinking margins.
Tesla
(ticker: TSLA) raised the prices for its Model S and X vehicles by $1,000 late on Thursday and the prices of its Model Y by $250, according to its website. The move follows a similar round of small price increases earlier this month. Prices for the entry-level Model 3 were unchanged.
The increases could calm investors’ concerns about the series of price cuts which have hit Tesla’s margins in recent earnings results.
Tesla prices still remain considerably lower than at the start of the year. The price increases may reassure that demand is strong, and could also trigger potential customers to buy now, ahead of further potential price rises.
Tesla shares were up 1.3% in premarket trading on Friday, although the stock was also likely reacting to news that CEO Elon Musk said he had found a new chief executive for Twitter, which lifted the shares on Thursday. Some Tesla investors had been concerned Musk was spread too thin juggling the various businesses pulling on his time.
Write to Adam Clark at [email protected]
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