Tesla Raises Prices Significantly Across Model Lineup

Photo: Tesla

Tesla is raising the prices of its cars once again. This time, the price hike is being blamed on global supply-chain issues, according to Reuters. Raw material costs – including aluminum used in Teslas – have been on a big upswing recently.

This is the second significant price increase this year, with the last one happening back in March.

Electrek reports some models have gone up by as much as $6,000, though not every vehicle has seen quite that increase.

Tesla Model 3

The Model 3 received the smallest price increase. The Model 3 Long Range is the only vehicle in that lineup to be affected, and it went from $54,490 to $57,990. That’s a $2,500 increase.

Tesla Model Y

Both versions of the Model Y had price increases.. The Long Range went from $62,990 to $65,990 ($3,000 increase) and the Performance rose from $67,990 to $69,990 ($2,000 increase)

Tesla Model S

The aging Model S got a more substantial price increase than 3 and Y. The Model S Dual Motor All-Wheel Drive Long Range went from $99,990 to $104,990. That’s a $5,000 price increase, on top of another $5,000 price increase that happened a few months back, according to Electrek. That means the price of the Model S – a vehicle that has been on sale for 10 years – has risen by $10,000 in 2022.

Tesla Model X

The Model X saw the worst of the price increases. A Model X Dual Motor All-Wheel Drive Long Range increased from $114,990 to $120,990. That’s a $6,000 price increase for an SUV that – like the Model S – is no longer a spring chicken.

The Grand Scheme

Tesla CEO Elon Musk has warned about the risk of a recession in recent weeks. He’s even tweeted about having a “super bad feeling” in regards to the economy and said Tesla needs to cut 10 percent of jobs at the company.

It’s also probably safe to assume the $25,000 Tesla is all but dead, if it was ever a possibility to begin with.

I suppose if you want a Tesla, you better act sooner rather than later. As Marlo Stanfield said in The Wire, “Price of the brick going up.”