Tesla has become the latest victim of the escalating trade war between the United States and China.
Ever since the increased tariffs by China, prices on all Tesla models have now been hiked by roughly 20 percent, or $2 billion-plus dollars overall.
As a result, the base Model S now costs roughly $127,000, up from $107,000, with the Model X costing $40,000 more, jumping from $200,000 to $240,000.
With China accounting for 17 percent of Tesla’s revenue, this is a really hard pill to swallow.
This move comes shortly after a May $14,000-cut in Model X prices where China agreed to reduce car important tariffs from 25 to 15 percent after July 1.