Tesla hikes US prices days after sixth price cut this year

(Reuters) -Tesla Inc late on Thursday increased the U.S. prices for both versions of its Model S and X electric vehicles, according to its website, days after slashing prices for the sixth time this year.

Tesla (NASDAQ:)’s Model S Plaid and Model X Plaid are now priced at $107,490 from $104,990 earlier.

Model X is priced at $97,490, an about 2.6% rise and the price of Model S has increased around 2.9% to $87,490.

Tesla boss Elon Musk on Wednesday doubled down on the price war he started at the end of last year, saying the EV maker would prioritize sales growth ahead of profit in a weak economy.

The company posted its lowest quarterly gross margin in two years, missing market estimates, as it slashed prices aggressively in markets including the United States and China to spur demand and fend off rising competition.