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Tesla hikes prices in US and China despite rivals’ cuts and incentives

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Tesla (TSLA) is hiking prices across a number of regions on the first day of its second quarter.

In the US, Tesla hiked prices of its popular Model Y SUV across all three trim levels by $1,000. Tesla did the same in China, with the Model Y Long Range version rising by 5,000 yuan ($675) to 304,900 yuan, with the Performance version also rising by 5,000 yuan, to 368,900 yuan.

SHANGHAI, CHINA - NOVEMBER 06: People look at a Tesla Model Y SUV at the Tesla booth during the sixth China International Import Expo (CIIE) at the National Exhibition and Convention Center on November 6, 2023 in Shanghai, China. The 6th China International Import Expo kicked off on Sunday, with many cutting-edge technologies and new products making their debuts at the event. (Photo by VCG/VCG via Getty Images)SHANGHAI, CHINA - NOVEMBER 06: People look at a Tesla Model Y SUV at the Tesla booth during the sixth China International Import Expo (CIIE) at the National Exhibition and Convention Center on November 6, 2023 in Shanghai, China. The 6th China International Import Expo kicked off on Sunday, with many cutting-edge technologies and new products making their debuts at the event. (Photo by VCG/VCG via Getty Images)

People look at a Tesla Model Y SUV at the Tesla booth during the sixth China International Import Expo at the National Exhibition and Convention Center on Nov. 6, 2023, in Shanghai, China. (VCG/VCG via Getty Images) (VCG via Getty Images)

Both price hikes were expected,…



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