EV giant Tesla Inc TSLA has increased prices on certain models in U.S., China, Japan and Canada.
What Happened: In the U.S., Tesla increased both Model Y and Model 3 prices by $250, as per the company website.
| Model Name | Current Price | Previous Price |
| Model Y AWD | $47,240 | $46,990 |
| Model Y Long Range | $50,240 | $49,990 |
| Model Y P | $54,240 | $53,990 |
| Model 3 RWD | $40,240 | $39,990 |
| Model 3 Performance | $53,240 | $52,990 |
In China, Tesla’s second biggest market, the EV maker hiked Model 3 and Model Y prices by 2,000 yuan or about $290.
The EV giant also raised the prices of its Performance crossover Model 3 and Model Y by C$300 each in Canada and the prices of entry-level Model 3 by 37,000 yen in Japan, according to Reuters.
Why It Matters: The price hike comes after a slew of price cuts which commenced with price cuts of up to 19.7% in January.
The price cuts enabled better first-quarter deliveries for the EV giant and added pressure on rival EV makers to cut costs to battle competition.
Tesla delivered 422,875 vehicles in total in the first quarter, 4.34% higher than its fourth-quarter tally of 405,278 units.
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Read More: You Can’t Order A Tesla Model S Or Model X For Now If You Live In These Countries
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