Tesla raises Model Y prices in the US for the first time since 2024

Tesla has quietly put up the price of its Model Y range in the United States, with the increases taking effect on Saturday and listed on the company's website without explanation, news agency Reuters reported. The all-wheel drive and rear-wheel drive premium variants have each gone up by $1,000, now retailing at $49,990 and $45,990 respectively. The higher-spec Model Y Performance all-wheel drive has also risen, though by a smaller margin of $500, bringing its new price to $57,990.

No statement accompanied the changes, and Tesla offered no public rationale for the decision.

The last time the electric vehicle maker touched Model Y pricing was in early 2024, when it raised the cost of the entire Model Y line-up by $1,000 across the board -- meaning Saturday's move ends a two-year period of stability on its best-selling model.

The increases come despite a turbulent period for the brand. In August last year, Tesla pushed up the price of its most expensive Cybertruck variant by $15,000 in the US, even as the pickup faced weaker-than-anticipated demand and a string of recalls.