Tesla raises US price of Model X Plaid all-wheel drive by 5.6%

(Reuters) – Tesla has raised the price of its Model X Plaid all-wheel drive in the United States to $94,990, up from $89,990, according to the electric vehicle maker’s website on Thursday.

The price increase follows Elon Musk, Tesla’s CEO, announcing that the company has managed to maintain demand through a series of price cuts. However, Musk expressed concerns about rising interest rates potentially making cars unaffordable.

Despite the price cuts, the Model Y SUV has seen minimal change in price for consumers due to the higher financing costs, Musk noted.

Recently, Tesla reduced the prices of its Model 3 and Model Y vehicles in the U.S.

Chandni Shah reporting from Bengaluru; Editing by Sohini Goswami and Savio D’Souza)