Tesla has raised the prices of select Model 3, Model Y, Model X and Model S vehicles. electrek Report. The biggest price increase affects the Model X Dual Motor All-Wheel Drive Edition, with a $6,000 increase from $114,990 to $120,990, while the Model S Dual Motor All-Wheel Drive configuration increased from $5,000 to $99,990 to $104,990. Done. Tesla’s cheapest car, the Model 3, was spared the most severe growth.
However, a variant of the Model 3 is seeing an increase. The price for the Long Range version of the Model 3 increased by $2,500 to $57,990 from $54,490. However, the most affordable Model 3 version sold online costs the same, the rear-wheel drive model, at $46,990. That was the price during Tesla’s last big round of price hikes in March.
The Long Range Model Y is also rising from $62,990 to $65,990 (a $3,000 price increase), while the Performance model is rising from $2,000 to $67,990 to $69,990.
Such price increases have been relatively common in Tesla’s lineup in recent years. A year ago, the company’s CEO Elon Musk blamed them for proving particularly problematic on supply chain pressures coupled with raw material costs and global chip shortages. This year, the manufacturer faces rising inflation and transportation costs in the US and around the world, adding pressure to its bottom line. Elon Musk has yet to publicly comment (read: tweet) about the latest price hike.
It was a very different situation just a few years ago when Tesla was Cutting Priced at its most affordable Model 3 in an effort to make it an affordable option for the mass market. Now, though, the company’s prices are far from the $35,000 starting price it’s been targeting for so many years.