March 18, 2024 by MarketNewsData

Tesla (TSLA) has announced a price increase for its Model Y electric vehicles in select regions of Europe and the United States. The price hike in Europe is expected to be approximately 2,000 euros ($2,177) and will take effect on March 22. In the United States, the cost of Model Y vehicles will rise by $1,000, starting on April 1. Tesla stock was up 6,25% closing at $173.80 on Monday trading,

This pricing adjustment is to enhance margins. Tesla is expected to deliver 494,000 vehicle for Q1 2024 to be released on April 1,2024. Last year’s Q1 2023 they produced over 440,000 vehicles and delivered over 422,000 vehicles.