Tesla has reversed course on price cuts to its Model Y line this month after the U.S. Treasury announced loosened restrictions on electric vehicle credits.
A picture taken Sept. 5, 2020, shows a Tesla Model Y, an all-electric compact SUV, during its presentation at the Automobile Club in Budapest.
The statement continued, "To make it easier for consumers to know which vehicles qualify under the applicable MSRP cap, Treasury is updating the vehicle classification standard to use the consumer-facing EPA Fuel Economy Labeling standard, rather. This change will allow crossover vehicles that share similar features to be treated consistently."
In January, Tesla slashed the price of its baseline Model Y Long Range to $53,490 and Model Y Performance to $56,990.Tesla is now bumping those prices up, the Detroit Free Press noted. CEO Elon Musk said last week the company would be raising the price after seeing increased demand, according to Bloomberg.Tesla Model Y electric vehicles in a lot at the Tesla Inc. Gigafactory in Gruenheide, Germany, Jan. 21, 2023.This marks the third price change for Tesla in the past month.
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