On this first day of its second quarter, Tesla (TSLA) is increasing pricing in several different regions.

The popular Model Y SUV now costs $1,000 more in the US than it did before, for all three trim levels. The Model Y Long Range variant and the Performance version also saw price increases by 5,000 yuan ($675) and 5,000 yuan, respectively, when Tesla made the similar move in China.

Both price increases were anticipated since Tesla had employed price incentives to move cars before the first quarter ended on March 31. Additionally, purchasers had been warned for weeks that prices would increase on April 1 via Tesla’s US website. In an effort to encourage sales, Tesla also raised the price of its Model Y by 2,000 euros in a few European locations at the end of March.

In the meantime, Tesla has been lowering its prices in China and the US to boost demand in both regions. In an effort to encourage more customers to purchase its EVs, Chinese EV manufacturer NIO announced on Monday via its Weibo account a variety of incentives, including battery swap perks, subscriptions to self-driving software, and freebies like the NIO phone. Furthermore, through April 30th, XPeng is continuing to lower the price of its G9 SUV by 20,000 yuan ($2,700).

Tesla’s actions coincide with the company’s anticipated announcement of its Q1 global delivery results tomorrow.

According to Bloomberg consensus estimates, analysts anticipate that Tesla will have delivered 453,964 units in Q1. That would represent a 6% decline from the fourth quarter sequentially, but any number below the roughly 423,000 cars the business delivered a year earlier would be even more alarming.

According to Deutsche Bank, this will be the case, since Q1 deliveries were significantly fewer than analyst estimates at 414,000 units.

Topics #China #Tesla #US