Tesla Increases Price Of Model 3 Performance By $1K In US Days After Launch
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) increased the price of its Model 3 Performance in the U.S. by $1,000, setting the new price at $53,990. This adjustment comes shortly after the model's launch and ahead of Tesla's first-quarter results. The Model 3 Performance is eligible for a $7,500 federal EV tax credit, effectively reducing its price for eligible buyers. Tesla had previously reduced prices across other models but left the refreshed Model 3 unchanged. Tesla's stock closed down 1.11% at $168.28 per share on Friday, marking a 32.26% decline year-to-date.
April 27, 2024 | 2:18 am
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Tesla Inc raised the price of its Model 3 Performance variant by $1,000 in the U.S., now priced at $53,990. The stock closed down 1.11% at $168.28, with a year-to-date decrease of 32.26%.
The price increase of the Model 3 Performance variant could have a neutral to slightly positive impact on Tesla's stock in the short term. While the price hike reflects the company's pricing power and could improve margins, the recent stock performance indicates broader market concerns that may temper any positive impact. The eligibility for a federal EV tax credit could sustain demand despite the price increase.
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