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Electric giant Tesla (NASDAQ:TSLA) increased the Model Y price in the United States, with the Long Range version increasing by $1,500 to a total of $54,990, and the Performance variant increasing by $1,000 to list at $57,990.
The move comes after the Biden administration introduced measures to make crossover SUVs eligible for the newly improved electric vehicle tax credit. This change expands the number of consumers who can take advantage of the $7,500 consumption tax credit by expanding the definition of how a sport utility vehicle is defined under the Inflation Reduction Act. SUVs that cost up to $80,000 can now get the credits.
January saw a surge in Tesla (TSLA) stock prices, with research reports indicates high demand for the electric vehicle manufacturer’s Model Y in the US.
Just three weeks ago, Tesla (TSLA) has slashed prices on some Model Y versions to boost demand and make them eligible for a $7,500 electric vehicle tax credit under the Inflation Reduction Act. of Tesla (TSLA) Q4 figures also achieved a delivery record of 405,278 vehicles.
