Tesla Car Price Hike: Model Y Prices Increased in US, Performance Variant Now Costs USD 57,990

Tesla has increased the prices of its Model Y vehicles in the United States, according to updates on the company’s official website. The latest Tesla car price hike affects multiple Model Y variants, with prices rising by up to USD 1,000.

The electric vehicle maker has raised the price of the Model Y premium all-wheel drive variant to USD 49,990, while the premium rear-wheel drive version now costs USD 45,990. Both models saw a price increase of USD 1,000.

Tesla also increased the price of its Model Y Performance all-wheel drive variant by USD 500. The vehicle is now priced at USD 57,990 in the US market. Tesla Opens 1st Experience Centre in Bengaluru’s Whitefield, Introduces Model Y and Model Y L at City's Tech Hub.

The company has not provided any official reason behind the latest price revision. This marks Tesla’s first Model Y price increase in nearly two years. In 2024, the company had raised prices across all Model Y variants by USD 1,000.

Last year, Tesla had also increased the price of its top-end Cybertruck pickup model by USD 15,000 despite facing softer-than-expected demand and multiple recalls. Tesla Model Y L Premium Vs Tesla Model Y Premium; Check Comparison of Prices, Features and Specifications.

The latest move comes at a time when global electric vehicle makers are closely monitoring production costs, tariffs, competition, and consumer demand. Tesla’s pricing strategy continues to remain under watch as the company balances profitability with slowing EV sales growth in several markets.

Model Y remains one of Tesla’s best-selling electric SUVs globally and plays a major role in the company’s overall sales performance.

(The above story first appeared on LatestLY on May 16, 2026 08:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).