Tesla has raised the price of its Model X Plaid all-wheel drive in the United States to $94,990, up from $89,990, according to information available on the company’s website as of Thursday. This adjustment comes just a day after Tesla CEO Elon Musk expressed mixed feelings about the company’s pricing strategy in a climate of increasing interest rates.
“We’ve managed to maintain demand through a series of price cuts, but rising interest rates are a concern for affordability,” Elon Musk stated. He pointed out that higher financing costs have essentially neutralized any consumer benefit from previous price cuts on Tesla’s popular Model Y SUV.
Earlier this month, the electric vehicle manufacturer reduced prices for its Model 3 and Model Y cars in the U.S., aiming to boost demand. However, Musk’s recent comments indicate that the rising costs of financing may offset the advantages of such reductions.
The price hike for the Model X Plaid adds another layer to Tesla’s pricing strategy, as the company grapples with the implications of an economic environment characterized by increasing interest rates.
