Tesla Raises Prices Despite Rivals Cutting Costs to Spur Demand

• Tesla hikes prices in US and China despite competition cutting prices to boost demand

• In US, Tesla raised Model Y prices by $1,000 across trim levels; similar hikes in China

• Price hikes expected after Tesla used incentives to boost Q1 sales figures

• Rivals like NIO and XPeng extending price cuts and incentives to gin up demand

• Tesla Q1 delivery figures due tomorrow, expected to miss forecasts due to sluggish China sales