Tesla has once again increased the price of its vehicles, this time targeting the Model 3 and Model Y. Price increases are a pretty common occurrence for Tesla products, whether it be the company’s actual cars or software add-ons. Certain Tesla models have gone up by thousands of dollars since their initial launch, the Full Self-Driving upgrade has increased from $3,000 up to $10,000 in about three years, and Tesla started charging up to 50 percent more for its Solar Roof earlier this year. That adds appreciating value for people who got in on Tesla early on, but it can make the company a bit daunting for everyone else.
Although every Tesla has been faced with price increases, they’re especially irksome when they affect the Model 3 and Model Y — Tesla’s affordable sedan and SUV, respectively. While the Model 3 and Model Y are still cheaper than their Model S and Model X counterparts, that point has become less and less true since their release. Tesla has become notorious for upping the price by $500 or $1000 here and there, thus resulting in the ‘cheap’ Teslas losing some of their low-cost appeal.
With this latest price increase for July 2021, that’s exactly what’s happened yet again. The Long Range version of the Tesla Model 3 used to cost $48,990 just a few days ago. At the time of publication, Tesla’s website now lists it for $49,990 — an increase of $1000. An identical increase is seen with the Long Range Model Y. That version of the SUV used to be available for $52,990, but now, it’s up to $53,990. The other builds of the cars remain the same, meaning the Standard Range Plus Model 3 is still available for $39,990 and the Performance model for $56,990. For the Performance Model Y, it can still be purchased for the same $60,990 asking price.
While an increase of $1000 may not seem like much, it’s important to take this in the context of similar increases that have happened throughout the last few months. Back in February, a Standard Range Plus Model 3 was selling for $36,990 — $3000 less than what it’s available for today. The same is true of the Long Range Model 3, which used to cost $46,990. The Long Range Model Y was $4000 cheaper in February, previously selling for just $49,990.
In that light, Tesla’s gradual price hikes become harder to overlook. A $1000 price increase isn’t a big deal as an isolated incident, but when that results in a car costing $3000 or $4000 more than it did just a few months ago, that’s where things get a bit hairy. Tesla certainly isn’t obligated to keep its prices set in stone for the entirety of a car’s life cycle, but having such volatile prices like this can make the purchasing process a bit confusing. This is also unlikely the last price change of the year, so stay tuned for whenever the next one happens in the coming weeks/months ahead.
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