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Tesla Raises EV Prices For Second Time In A Week, Cheapest Model Now Starts From $46,990

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Tesla raised prices of all of the vehicles in its lineup from four to ten percent this week, marking the second time in seven days that it has increased its MSRPs.

The automaker raised the prices of certain Long Range vehicles last Wednesday, but this week’s hike affects more vehicles and is more substantial. With that, the price of Tesla’s least expensive vehicle, the Model 3 Rear-Wheel Drive has risen from $44,990 on March 10 to $46,990 today, an increase of 4.4 percent.

As first reported by The Verge, the price of the Model 3 Long Range, meanwhile, is now $54,490, up from $51,990 on March 10 and rising from $50,990 before that, according to the Wayback Machine. In all, the vehicle’s price has risen nearly eight percent this year. The model 3 Performance, meanwhile, went from $58,990 to $61,990, an increase of five percent.

Read More: Tesla Raises Prices Of Model 3 And Model Y Long-Range Amidst 100% Jump In World Nickel Prices

Prices for the Model Y Long Range went from $59,990 to $62,990 while the price of the Model Y Performance rose from $64,990 to $67,990, increases of five and 4.6 percent respectively. The Model S Dual Motor, meanwhile, went from $94,990 to $99,990 and the Tri Motor’s went from $129,990 to $135,990, or 5.2 and 4.6 percent.

Finally, the Model X Dual Motor saw its price go from $104,990 to $114,990, an increase of 9.5 percent, while the Model X Tri Motor costs $138,990 now, instead of the $126,490 it cost previously. That’s the biggest single increase here and amounts to a 9.8 percent price hike.

CNBC, meanwhile, reports that prices have similarly risen in China. The Model 3 Performance‘s MSRP increased by five percent or 18,000 yuan ($2,824 USD at current exchange rates) in the same period of time.

Tesla has offered no official reason for charging more for its vehicles, though its CEO, Elon Musk, on Monday said that both Tesla and SpaceX are being affected by “inflation pressure in raw materials & logistics.”

Tesla competitor Rivian recently attempted to raise the prices of its vehicles, citing the rising cost of materials but was harshly criticized for the move, leading its stock price to plummet and inspiring a lawsuit.

Tesla & SpaceX are seeing significant recent inflation pressure in raw materials & logistics

— Elon Musk (@elonmusk) March 14, 2022

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