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

Tesla has increased the price of its Model X Plaid all-wheel drive to $94,990 from $89,990 in the United States, the electric vehicle maker’s website showed on Thursday.

This comes a day after CEO Elon Musk said Tesla had managed to maintain demand with a series of price cuts but added he was concerned that rising interest rates would make cars unaffordable.

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Higher financing costs meant the price of the popular Model Y SUV was “almost unchanged” for consumers despite price cuts, Musk said.

Earlier this month, Tesla cut prices for its Model 3 and Model Y vehicles in the US.