Tesla's New Model 3 Performance Gets Second $1000 Price Hike, Retains Tax Credit Perk
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has increased the price of its new Model 3 Performance for the second time within a month, now priced at $54,990. Despite the price hikes, the vehicle remains eligible for a $7,500 federal EV tax credit, making it effectively cheaper than the Long Range version for eligible buyers. Tesla's stock closed 0.5% higher at $174.84 per share on Thursday but is down nearly 30% year-to-date.
May 17, 2024 | 5:36 am
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Tesla has increased the price of its new Model 3 Performance for the second time within a month, now priced at $54,990. Despite the price hikes, the vehicle remains eligible for a $7,500 federal EV tax credit, making it effectively cheaper than the Long Range version for eligible buyers. Tesla's stock closed 0.5% higher at $174.84 per share on Thursday but is down nearly 30% year-to-date.
The price hike indicates strong demand for the Model 3 Performance, which could positively impact Tesla's revenue. The retention of the $7,500 federal EV tax credit makes the vehicle more attractive to buyers, potentially boosting sales. The stock's slight increase suggests a positive market reaction, although the year-to-date decline indicates broader challenges.
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