Following a year of price hikes in 2021 and modest increases in early 2022, Tesla’s cars have significantly jumped up in price again, according to Electrek, which tracked the price increases on Tesla’s website.
Here’s a breakdown of the price hikes:
- Tesla Model 3: $2,500 increase, going from $54,490 to $57,990.
- Tesla Model Y Performance: $2,000 increase, going from $67,990 to $69,990.
- Tesla Model Y Long Range: $3,000 increase, going from $62,990 to $65,990
- Tesla Model S Long Range : $5,000 increase, going from $99,990 to $104,990
- Tesla Model X Long Range: $6,000 increase, going from $114,990 to $120,990
Tesla didn’t disclose why the prices on these vehicles are climbing. However, it’s likely that the rising cost of aluminum, which Tesla uses to make its cars, and ongoing supply chain issues, one driver of today’s inflation, are driving up Tesla’s costs.
Tesla didn’t immediately respond for comment.
Elon Musk, the electric car maker’s CEO, has been vocal about the risk of a recession, saying he has a “super bad feeling” about the economy, according to Reuters.