NEW YORK, March 18 (Reuters) - Shares of Tesla

rose by nearly 7% on Monday after the automaker announced price

increases for its Model Y electric vehicles across some European

countries and the United States.

Tesla said prices of its Model Y vehicles will be increased

by approximately 2,000 euros ($2,177) in some European countries

effective March 22, according to a company statement on

Saturday. It had announced on Friday price hikes for all Model Y

cars in the U.S. by $1,000 effective April 1.

Tesla shares rose as high as $174.72, up nearly 7%, on

Monday following the announcements. The stock is on track for

its second straight day of gains after dropping to a near

10-month low last week. It was last up 5.8% at $173.13.

(Reporting by Chibuike Oguh in New York)