Tesla raises prices in U.S., Japan, Canada, China

Tesla Inc. has raised its prices in a range of up to $290 in countries such as the U.S., Canada, China, and Japan according to its website on Monday, this came after a reduction in prices since the start of the year.

The increase was Tesla’s first hike on its two top-selling models in multiple markets, despite the fact that prices across its lineup are much lower than it was in January, after a round of discounts.

The Chief Executive Elon Musk said last month that the company would prioritise sales growth and look to profit later on its rollout of self-driving software for a larger group of cars.

Musk said that the company is willing to sacrifice margin for sales volume. However, the company is also planning to move prices back higher to match deliveries with output.

Tesla’s website showed on Monday that it had raised the starting price point by $250 on the base model Model Y and Model 3 in the United States. The prices changed about the same amount in its second largest market of China, as well as in Canada and Japan.

In Canada, Tesla rose its prices by C$300 ($222) for the Model 3 and Model Y, while in Japan prices for the entry level Model 3 climbed by $269. While, the variants in China rose by $289 according to the company’s website.