Tesla Motors CEO Elon Musk is trying to convince customers that the electric-car maker has the potential to have an effect on the prices of cars in the U.S. and around the world.
“We’re working on it, and we’re getting close to the end of that process,” Musk told a group of reporters in Las Vegas, Nevada, on Tuesday.
Musk said the company would likely have a price increase on top of the initial $100,000 price hike in July.
Tesla’s first-quarter results showed the company has achieved its first full-year profit in the company’s history.
Musk didn’t directly address the price-increase, but said he thought the company could get it to work.
He did, however, suggest that some of the pressure from competitors is slowing down the company.
“Some of the competition has come in at a good pace, and they’re not quite as aggressive as they need to be,” Musk said.
The company said that it was still “working through” pricing changes that could come in the second half of the year.
Musk also noted that he’s received a lot of feedback from customers, but he didn’t say how many.
Musker was asked by reporters if Tesla would try to boost the price of its vehicles.
He said he was not looking to “change the price.”
He did say that Tesla would probably look to increase the cost of the car for customers who had been stuck with a car they didn’t like or that they could no longer afford.
Tesla has already seen some changes in pricing on its cars in other countries, including Germany and France, Musk said, and added that he doesn’t want to do it in the United States.
“We want to make sure that we are delivering the product at the right price,” Musk added.