EV giant Tesla Inc TSLA has hiked prices of all versions of its Model Y SUV in the U.S. by $1000 as expected ahead of its Q1 deliveries report.
What Happened: The base version of the Model Y SUV now starts at $44,990 in the U.S. The higher-end Long Range and Performance versions of the vehicle are priced at $49,990 and $53,490, respectively.
The price hike was not entirely unexpected, as the company warned of it last month. It also urged customers to take delivery soon to avoid the impending price hike.
Earlier in the day, the company also raised prices on Model Y in China by 5000 yuan ($about $692) across all versions.
Why It Matters: Tesla delivered 484,507 vehicles in the last quarter of 2023. Whether the different incentives offered to customers and warning of an impending price hike helped boost first-quarter deliveries beyond Q4 levels will be known when the company announces quarterly delivery numbers.
Expectations, however, are muted as most forecast a rare year-over-year decline from the 422,875 deliveries reported in Q1 2023.
Tesla ended Thursday's session down 2.25% at $175.79, according to Benzinga Pro data.
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Read More: Tesla CEO Elon Musk Draws Comparison Between Looi And Butter Robot From Rick And Morty
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