Tesla hikes the new Model 3 price by $1,000

Tesla has increased the price for its new Model 3 sedan launched last week by $1,000 to $46,000, according to the company's website.

The electric carmaker surprised markets by launching the new model on Oct. 18 in a move that came as U.S. tax breaks for Tesla cars are about to decrease.

Tesla is scheduled to report quarterly results after market close on Wednesday.

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