Monday, July 22, 2024

Tesla raises prices across entire line-up of electric vehicles

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Tesla has raised the price of its electric vehicles again. This is the second price increase in a month. In the last week, Tesla raised prices by $1,000 on several long-term models. Tesla has now implemented a much larger price increase for their entire line of electric vehicles.

The base Model 3 now starts at $46,990. The price is an increase of $ 2,000 from the previous. The Model 3 Dual Motor All-Wheel Drive now costs $2,500 at $54,490. Meanwhile, the Performance version has a price increase of $3,000 at $61,990.

For the Tesla Model Y Long Range, the current price is $62,990, or $2,000 more than before. For the Model Y Performance version, the price goes up by $3,000, which is now $67,990.

For all variants the Model S is up by $5,000 from the previous price, so you’ll have to spend at least $99,990 for one. The biggest increase was on the Model X, which was $10,000, which is now $114,990.

The price increase for all Tesla’s electric vehicles was predictable in advance. On Twitter, Tesla CEO Elon Musk hinted at a possible price hike. “Tesla & SpaceX are seeing significant recent inflation pressures in raw materials & logistics,” Musk said in a tweet.

Russia’s invasion of Ukraine is said to be one of the causes. One of the impacts of the invasion was the price of Nickel which had doubled. Russia is a major supplier of Nickel, which is an important component of lithium-ion batteries for electric vehicles.

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