: Tesla hikes U.S. prices

by | Jun 16, 2022 | Stock Market

Tesla is hiking its U.S. prices, as the electric vehicle maker battles rising aluminum costs and the global supply chain crisis. According to its website, the Model S list price has gone up to $109,490, from $104,490 earlier in the month. The Model Y has climbed to $67,990, from $64,990.

Tesla CEO Elon Musk earlier this month was reported to have said he has a “super bad feeling” about the global economy and announced a plan to cut 10% of salary jobs. Tesla
shares have dropped 34% this year, compared to the 20% drop for the S&P 500
In addition to concerns about rising interest rates that have hit tech stocks particularly hard, the vehicle maker’s stock has been pressured by Musk’s takeover bid for Twitter
using pledged Tesla shares as collateral. Musk on Thursday is meeting Twitter’s staff to discuss his takeover proposal.

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