TSLA on Thursday hiked prices on its premium Model X SUV by $5,000, effectively making the all-wheel drive version ineligible for a federal EV tax credit of $7,500. What Happened: According to Tesla’s U.S. website, the all-wheel drive is now priced at $84,990 while the more premium Plaid variant is priced at $99,990. Tesla offered no reasons for the price hike on its website. The company did not immediately respond to Benzinga‘s request for comment either. Previously, the base version of the Model X qualified for a federal tax credit as it was priced at $79,990, below the price limit of $80,000 required to be eligible. Why It Matters: The Model X is now Tesla’s most expensive offering in the U.S. The company’s other premium vehicle offerings – the Model S and the Cybertruck – start at $79,990 for the base variant. The base version of the Cybertruck is also eligible for the EV tax credit, increasing the effective price for eligible customers to $72,490. Tesla launched a refreshed version of its more affordable SUV – the Model Y, last month. The long-range all-wheel drive variant of the refreshed vehicle is priced at $59,990 or 25% more expensive than its predecessor. Deliveries of the refreshed vehicle are slated to start in March. Check out more of Benzinga's Future Of Mobility coverage by following this link. Read Next: