Tesla has increased the prices of certain Model 3, Model Y, Model X and Model S vehicles, Electrek reports† The biggest price increase relates to the Model X Dual Motor All-Wheel Drive version, which saw a $6,000 increase from $114,990 to $120,990, while the Model S Dual Motor All-Wheel Drive configuration rose $5,000 from $ 99,990 to $104,990. Tesla’s most affordable car, the Model 3, was spared the steepest rises.
However, one version of Model 3 is seeing an increase. The Long Range version of the Model 3 increased in price by $2,500 from $54,490 to $57,990. However, the price of the most affordable Model 3 version sold online, the rear-wheel drive model, remains the same at $46,990. That was the price it rose to during Tesla’s last big round of price hikes in March.
The Long Range Model Y also jumps from $62,990 to $65,990 (a $3,000 price increase), while the Performance model jumps $2,000 from $67,990 to $69,990.
Such price increases have been relative common in Tesla’s lineup in recent years. A year ago, the company’s CEO, Elon Musk, accused them of supply-chain pressure, with raw material costs and the global chip shortage proving particularly problematic. This year, the manufacturer has been battling rising inflation and transportation costs in the US and around the world, putting pressure on profits. Elon Musk has not yet made a public comment (read: tweet) about the latest price increases.
It was a very different situation just a few years ago when Tesla was to cut the price of its most affordable Model 3 in an effort to make it an affordable mass-market option. Now, however, the company’s pricing is a long way from the $35,000 starting price it’s been aiming for for so many years.