Tesla is back at it with another round of price increases, this time across all different models. Not every single package has seen a price increase, but some trim models have been increased by up to $6,000.
The news comes from a recent report from Electrek. As the publication notes, price increases haven’t really been an uncommon occurrence at Tesla in the past 18 months or so.
The company began increasing prices pretty regularly last year, thanks to the semiconductor shortage.
Price hikes have continued, with increases as recent as March. Now it’s time for yet another one. Starting off with the Model 3, this is one of the smaller price increases of the bunch. The Long Range Model 3 has increased by $2,500 from $54,490 to $57,990.
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The Model Y Long Range increased by $3,000 from $62,990 to $65,990 and the Performance version went up by $2,000 from $67,990 to $69,990.
The Model S is where the price hikes start to increase even more. The Long Range Model S price increased by $5,000 to a total of $104,990. The Plaid version didn’t increase.
And finally, the Tesla Model X saw the largest increase in the bunch. The Long Range Model X increased from $114,990 to $120,990. That’s a $6,000 increase. The Plaid version of the Model X was also kept the same for now.
Why did Tesla increase its prices?
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As for why the prices increased, Tesla didn’t give any reasons. That’s not a surprise, as the company usually doesn’t give explicit reasons for price increases unless it’s in a cryptic Elon Musk tweet.
But as Electrek speculates, increases in material prices continue to cripple the entire auto industry. It’s also likely that Tesla is simply looking to increase its profits.
It’s a common practice for companies to offer products at a more affordable price and increase them over time as they become more popular. Just look at Netflix. A Netflix subscription used to cost $7.99, but the most recent increase brought the Standard subscription up to $15.49 per month.
And Tesla has certainly increased in popularity in the past few years. The company has likely been planning these price increases all along, it just needed to develop its brand first.
Whatever the reason for Tesla’s price increases, they have certainly been pretty aggressive. I would imagine this isn’t the last price increase that we see for Tesla vehicles in the near future.
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