Tesla adjusted the price of the Model 3 sedan and Model Y crossover for the fourth time since the start of this year. According to data published on the company’s website, the Model Y crossover’s price increased by $1,000 to $58,990, while the Model 3 sedan’s price decreased by $500 to $42,990.
Both cars qualify for $7,500 in federal tax credits, and Tesla started a big price cut in January with all products in all major markets.
Despite recent changes in the price of Model Y performance, which has the higher top speed of all Tesla models, is still 16% cheaper than it was in early January for customers in the U.S., and the Model 3 sedan is nearly 3% cheaper.
After the U.S. government raised the ceiling on the crossover electric vehicle’s prices that are eligible for tax benefits, Tesla boosted the prices of the Model Y Long Range at the beginning of the month.
Elon Musk said that the EV orders were nearly double the output in January, after the first price adjustment.
The large price cut in January sparked protests in China by Tesla’s customers who had bought the EV before and missed the discount. Also, customers in the U.S. complained that the price cut also destroyed the resale value of its vehicles.
The price cuts this year came after two years in which Tesla had increased the price but failed to meet demand.
