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.
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