Tesla Inc. (TSLA.O) has announced an increase in the price of its Model X Plaid all-wheel drive in the United States, according to information displayed on the electric vehicle manufacturer’s website. The price of the Model X Plaid has been raised from $89,990 to $94,990, marking a significant adjustment.
This price adjustment comes just one day after Tesla’s CEO, Elon Musk, acknowledged the company’s efforts to maintain demand by implementing a series of price cuts on their vehicles. Despite these price reductions, Musk expressed concerns about the potential impact of rising interest rates on the affordability of cars.
Musk mentioned that higher financing costs had led to the price of the popular Model Y SUV remaining “almost unchanged” for consumers, despite Tesla’s prior price reductions. While Tesla aims to balance its pricing strategies to accommodate customer demand and affordability, these ongoing adjustments appear to be a response to external factors, including economic variables like interest rates.
Tesla has been actively revising the pricing of its vehicle lineup this month, with reductions applied to its Model 3 and Model Y vehicles in the United States. These adjustments reflect the dynamic and competitive nature of the electric vehicle market, as manufacturers continually adapt to market conditions and economic factors that impact consumer purchasing decisions.