Tesla (NASDAQ:TSLA) raised prices on its Model Y lineup in the United States on Saturday, marking the company’s first Model Y price increase since 2024.

According to Tesla’s website, the Model Y Premium all-wheel drive and Model Y Premium rear-wheel drive each climbed $1,000 to $49,990 and $45,990, respectively. The Model Y Performance all-wheel drive trim rose $500 to $57,990.

Pattern Worth Watching

The increase in price reflects a broader pricing strategy by Tesla. In August 2024, the company raised the price of its highest-end Tesla Cybertruck trim by $15,000 despite weak sales and ongoing recalls. The last price increase for the Tesla Model Y, also $1,000 across all trims, took place in 2024.

Tesla Model Y SUV has been the world's best-selling vehicle for three straight years, according to Tesla, with more than 357,528 units sold in 2025, although that represented a 4% decline from the previous year. CEO Elon Musk also earlier praised it.

Tesla Model Y, which launched in 2020, spent an average of just 34.6 days on dealer lots during the first quarter of 2026, making it one of the fastest-selling electric vehicles, according to iSeeCars, a sign of continued demand.

Tesla’s Model Y constantly gets challenged by Chinese firm BYD Co. Ltd. (OTC:BYDDF) (OTC:BYDDY). The company had lost its crown position as the world’s top electric vehicle maker to BYD in 2025.

What’s Going On With TSLA Stock?

Tesla has a market capitalization of $1.32 trillion, a 52-week high of $498.83 and a 52-week low of $273.21.

The large-cap stock has gained 23.17% over the past 12 months.

Benzinga's Edge Stock Rankings indicate that TSLA stock is experiencing a positive price trend across all time frames.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.