Tesla has announced a $5,000 price increase for both trims of the Model X, bringing their costs to $84,990 and $99,990. This change makes the models ineligible for the Federal EV Tax Credit due to exceeding the $80,000 threshold. Analysts suggest the price hike could be due to tariff pressures, a desire for higher profit margins on a low-volume vehicle, or an effort to guide consumers towards the upcoming Cybertruck. CEO Elon Musk has previously categorized the Model X as a 'niche product', implying a potential strategic shift within Tesla's offerings.
Tesla has increased the price of its Model X trims by $5,000, now costing $84,990 and $99,990, respectively, potentially influencing consumers towards the Cybertruck.
The price bump affects the Model X's eligibility for the Federal EV Tax Credit, now exceeding $80,000, marking the first increase since mid-last year.
CEO Elon Musk previously described the Model X as a 'niche product', indicating that the price increase may reflect a desire to shift focus to more commercially viable vehicles.
Tesla could be adjusting the price as a response to supply chain challenges, while also aiming to bolster margins on its low-volume Model X vehicle.
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