AUSTIN, Texas: Tesla has increased the prices of several Model Y vehicles in the United States, marking the first price hike for the popular sport utility vehicle in two years.

According to Tesla's website, the company raised the price of the Model Y Premium All-Wheel Drive by US$1,000 to $49,990. The Model Y Premium Rear-Wheel Drive also increased by $1,000 to $45,990.

Tesla also raised the price of the Model Y Performance All-Wheel Drive by $500 to $57,990.

The company did not provide a reason for the increases.

The last time Tesla raised Model Y prices was in 2024, when it increased prices across all versions by $1,000.

The Model Y remains one of Tesla's best-selling vehicles and a key part of the company's lineup in the United States and other major markets.

The latest adjustment comes as automakers face rising costs linked to supply chain disruptions and higher raw material prices.

In August last year, Tesla increased the price of its highest-end Cybertruck model by $15,000 in the United States despite weaker-than-expected demand and a series of recalls involving the electric pickup.

Tesla, led by Chief Executive Officer Elon Musk, has frequently adjusted vehicle prices in recent years in response to changes in demand, competition, and production costs.