Tesla (TSLA) has significantly increased the prices of its electric cars across its entire lineup with some models going up by as much as $6,000.
After a year of increasing prices almost every month in 2021, Tesla slowed down the rapid rise in prices across its electric vehicles in early 2022.
But now the automaker is back at it.
Today, Tesla updated its online configurator overnight to again increase prices across its entire lineup.
Electrek tracked the price increases:
Tesla Model 3
The Model 3 is the one that got the smallest price increase of all Tesla’s lineup today.
Only the Model 3 Long Range is affected as it went from $54,490 to $57,990 – a $2,500 price increase:
Tesla Model Y
The Model Y, which has become Tesla’s most popular model, has received a bigger price increase with both versions of the electric SUV going up in cost.
- Model Y Long Range went from $62,990 to $65,990
- Model Y Performance went from $67,990 to $69,990
Tesla also now sells a Model Y Standard Range, the new version built in Texas, but Tesla has yet to let people buy it through its online configurator and only offers it to local Model Y buyers in Texas on an invitation basis for now.
Tesla Model S
Tesla Model S also saw its price increase significantly today, and that’s after a big $5,000 price increase just a few months ago.
The Model S Dual Motor All-Wheel Drive Long Range went from $99,990 to $104,990 with the price increase today.
The Plaid version of the flagship electric sedan stays the same price at $135,990.
Tesla Model X
Like the Model S, the Model X saw a significant price increase earlier this year and now again today.
The Model X Dual Motor All-Wheel Drive Long Range went from $114,990 to $120,990 with the price increase today.
That’s a significant $6,000 price increase for the electric SUV.
Like with the Model S, Model X Plaid stays the same price for now at $138,990
As usual, Tesla doesn’t disclose the reason behind those price increases, but we have our suspicions.
Increases in raw material prices and logistic costs are usual suspects.
Also, Tesla has a significant backlog of orders with new orders for several of those models only being delivered 6 to 12 months from now, according to the online configurator.
Therefore, Tesla has to try to predict cost increases for around the time that it will be producing those vehicles 6 to 12 months from now.
Or Tesla could just be looking to increase its gross margins. While the company was complaining about increasing costs during its price increases last year, its gross margins on vehicles have consistently increased over the last year.
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Author: Fred Lambert