Tesla Inc (TSLA.O) raised prices for all its car models in the United States, its latest price hike amid ongoing global supply-chain issues.
The electric carmaker increased its Model Y long-range price to $65,990 from $62,990, its website showed on Thursday, after delaying the deliveries of some long-range models in the United States by up to a month.
The price hike comes as costs of raw materials have surged, including aluminium that is used in cars.
Tesla updated its online configurator on Wednesday to represent the increase in prices across its entire lineup, according to Electrek, which has been tracking the price increase.
Archived copies of Tesla’s website via Wayback Machine taken as recently as April 23 confirm the difference in price.
As usual, Tesla has not provided an explanation for the increase in prices, but given the similar hikes being made by other automakers, it’s probably safe to assume a combination of inflation, supply chain issues and slowed production in China are all contributing factors.
During Tesla’s first-quarter earnings call in April, CEO Elon Musk said he thought inflation was worse than reported and likely to last all of 2022.
He also said global commodities supply constraints could hamper future production.
– Tesla Model X: The dual motor all-wheel drive Long Range Model X increased from $114,990 to $120,990 today. That’s an increase of $6,000 for the electric SUV. The Model X Plaid price at $138,990 has not yet been affected.
– Tesla Model S: The dual motor all-wheel drive Long Range Model S went from $99,990 to $104,990 on Wednesday, an increase of $5,000. Similarly to the Model X, the Plaid will remain the same price at $135,990.
– Tesla Model Y: Both versions of the automaker’s most popular model increased. The Long Range went from $62,990 to $65,990 and the Performance went from $67,990 to $69,990, an increase of $3,000 and $2,000, respectively.
– Tesla Model 3: The Long Range increased from $54,490 to $57,990, an increase of $2,500.