Tesla Warns Of Price Hike: All Model Y Trims Set To Increase By $1000 Starting April 1
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) announced a price increase of $1000 for all Model Y variants starting April 1, aiming to boost orders before the quarter ends. The base Model Y will start at $44,990. Tesla offers incentives like 5000 miles of free supercharging for deliveries before March 31. Tesla's Q4 2023 vehicle deliveries totaled 484,507. The impact of the price hike and incentives on Q1 deliveries will be assessed next month. Tesla shares closed up 0.66% on Friday but are down 34.16% YTD.
March 16, 2024 | 3:23 am
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Tesla Inc announces a $1000 price increase for all Model Y variants from April 1, aiming to boost orders. Offers incentives for March deliveries. Q4 2023 deliveries were 484,507. Shares up 0.66% on Friday, down 34.16% YTD.
The price increase for Tesla's Model Y could potentially boost short-term sales as customers rush to place orders before the hike. The incentives for March deliveries may also stimulate demand. However, the stock's year-to-date decline indicates broader market concerns that may temper the positive impact of these strategies on the stock price in the short term.
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