Tesla raises prices of Model Y cars in the US for the first time in two years

Published: 2026-05-16 10:01:16 ET TSLA

Published on 05/16/2026 at 10:01 am EDT

May 16 (Reuters) - Tesla raised the prices of its Model Y cars in the United States on Saturday, according to its website.

The company increased the price of its Model Y premium all-wheel drive and Model Y premium rear-wheel drive by $1,000 to $49,990 and $45,990 respectively.

The company also raised the price of its Model Y Performance all-wheel drive to $57,990 in the United States, up $500 from earlier, the website showed.

In August last year, the company raised the price of its most-expensive Cybertruck pickup truck model by $15,000 in the United States despite softer-than-expected sales and recalls.

Tesla did not provide a reason for the price increase.

The last time the company increased the price of Model Y cars was two years in 2024 ago when it raised the prices of all Model Y cars by $1,000.

(Reporting by Angela Christy in Bengaluru; Editing by Louise Heavens)