For the first time in two years, Tesla has raised prices on the Model Y in the US. The increase is modest but significant: after a long stretch of discounts and price cuts, the company has decided to bump up the price of its key crossover.

The Model Y Premium All-Wheel Drive went up by $1,000, now starting at $49,990. The Premium Rear-Wheel Drive version also rose by $1,000, landing at $45,990. The Performance All-Wheel Drive variant saw a $500 increase, now priced at $57,990.

Tesla hasn't provided a reason for the price hike. The last time the Model Y saw a price increase was in 2024, when the company similarly added $1,000 across all versions. Given the intense competition in the EV market, this move looks like a cautious demand test: Tesla isn't making a big leap but is checking if the market is willing to pay more.

Interestingly, back in August, Tesla raised the price of its top-end Cybertruck by $15,000 in one go, despite weak sales and recalls. Now the more mainstream Model Y is getting its turn.

For buyers, the message is clear: the era of constant price reductions at Tesla might be coming to an end. For now, the increase is small, but if demand holds up, future price adjustments could be more than symbolic.