Overview

• Tesla to increase Model Y prices by $1,000 in the U.S. starting April 1, following a similar hike in Europe.
• Overall electric vehicle prices are declining, with the gap between EV and gas-powered car costs narrowing.
• Automakers, including Tesla, are adjusting strategies amid slowing EV sales growth and heightened competition.
• Price adjustments reflect a mix of market dynamics, including inventory levels, demand, and production efficiency.
• Experts predict continued moderation in vehicle prices, with potential for electric models to become less expensive than gasoline cars.