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 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.
Tesla & SpaceX are seeing significant recent inflation pressure in raw materials & logistics
— Elon Musk (@elonmusk) March 14, 2022
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.