Tesla added $2,500 to all four versions of the Models S and X, increasing their prices from 2.4% to 2.9%.
Prices of the company’s top-selling Model Y small SUV and Model 3 small sedan remained the same after being lowered earlier this week.
Tesla shares closed Thursday down nearly 10% after CEO Elon Musk said it would sacrifice profit margins in order to boost sales. On Wednesday, Tesla reported from a year ago, and operating profit margins that dropped from 19.2% in the first quarter of last year to 11.4% last quarter.Tesla shares closed Thursday down nearly 10% after CEO Elon Musk said it would sacrifice profit margins in order to boost sales.The price increases come at a strange time for Tesla because global sales of the aging Model X large SUV and Model S big sedan fell nearly 38% in the first quarter to 10,695.
Shares in all electric vehicle makers have been under significant pressure this week. Tesla shares are down 12.4% for the week, while startups Rivian, Lucid and Lordstown Motors all lost about 10% of their value. Fisker dropped 14% for the week, and Nio fell 12%, while Nikola dropped almost 8%.
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