Tesla (TSLA.US) raises the price of its Model X in the United States by $5,000, as the North American market continues to drive demand.

Tesla (TSLA.US) has announced on its website that it has raised the prices of its Model X vehicles in the U.S. market by $5,000. Specifically, the price of the Model X All-Wheel-Drive has been raised from $79,990 to $84,990, while the price of the Model X Plaid has been raised from $94,990 to $99,990. This is not the first time Tesla has raised prices in the North American market. Last December, the company raised the price of its Model S vehicles in the U.S. by $5,000, and from February 1, it raised the prices of all its vehicles in Canada. Tesla did not disclose the reason for the price hike. However, the company is working to lower the cost of producing its vehicles and said in January that the average material and labor costs to manufacture its vehicles reached a low point in the fourth quarter of last year due to the collapse in raw material prices. By contrast, Tesla has adopted a completely different strategy in the Chinese market. On February 5, Tesla offered a big discount package for its core Model 3 in the Chinese market, including a time-limited insurance subsidy of RMB8,000, a 5-year 0-interest policy, and exclusive charging rights. This is the latest round of new discounts after the end of 2024. It is worth noting that Tesla's performance in the European market is not optimistic. In January, the number of new vehicles registered in Germany fell by 59% to 1,277, setting a record low monthly sales since July 2021. Analysts believe that the public support of CEO Elon Musk for the far-right party "Alternative for Germany" may have affected market demand. In addition, the sales in France fell by 63% in January, and in the UK by 12%.