Tesla Prices Are All The Way Up
Tesla has increased the pricing of its electric vehicles for the second time in less than a month. Following a $1,000 price rise on select long-range vehicles last week, the carmaker has now enacted a significantly greater price increase throughout its entire portfolio.
According to the Tesla Website, the basic Model 3 now starts at $46,990, which is $2,000 more than before. The Model 3 Dual Motor All-Wheel Drive is now $2,500 more costly at $54,490, while the Model 3 Performance is $3,000 more expensive at $61,990.
Meanwhile, the Long Range version of the Model Y now starts at $62,990, which is $2,000 more than before. Tesla has also upped the price of the Performance variant by $3,000, making it $67,990 today.
Tesla has added $5,000 to both Model S variants’ prior costs, so you’ll have to spend at least $99,990 for one. However, none of the other models Tesla offers saw a price hike as significant as the Model X, which now costs $10,000 more at $114,990.
Although Tesla discreetly hiked prices overnight, the action was not unexpected. Elon Musk, the company’s CEO, hinted to a price increase on Twitter. Both Tesla and SpaceX, he claims, are under “strong recent inflation pressure in raw materials [and] logistics.”
What are your thoughts about probable inflation rate over next few years?— Elona Musk (@elonmusk) March 13, 2022
Nickel is one of the minerals impacted by Russia’s invasion of Ukraine, with prices skyrocketing and more than tripling since the war began. Russia is a major supply of the metal, which is a fundamental component of lithium-ion batteries used by Tesla and other electric vehicle makers.
Side Note: Tesla is witnessing a large jump in new orders as a result of the increased interest in electric vehicles induced by the hike in petrol prices.
🔌 Shameless Plug
Volty is a digital platform that brings you the best content, news, analysis, research, and information about electric vehicles. Our live TV and VOD channels boast over 1000 hours of free original premium content streaming 24/7. Explore and learn everything about electric vehicles. www.volty.