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Inflation Alert: Tesla Increases Prices Of Their Electric Cars By As Much As 10%!

by Victoria Marian Belmis / Mar 16, 2022 11:33 AM EDT
Elon Musk

Just recently, Tesla has decided to increase prices of all its electric vehicles due to inflation.

READ: Elon Musk's Tesla To Pay Three Months Worth Of Wages To Conscripted Ukrainian Workers

Notably, the company's prices have gone up between 5 to 10 percent. The cheapest car Tesla currently sells, which is the Model 3 Rear-Wheel Drive, now starts at $46,990 while its high-end Model X Tri motor had an increase of $12,500, which is now $138,990 from $126,490 to.

Furthermore, this is Tesla's second price increase within a week, as it also previously increased the prices of certain models that are long-range in the past week. Though, current price raises are not only higher compared to last week's but have also applied to all vehicles Tesla sells.

As of writing this article, here are the Tesla car models that have increased in prices:

#1 Model 3 Rear-Wheel Drive from $44,990 to $46,990

#2 Model 3 Long Range from $51,990 to $54,490

#3 Model 3 Performance from $58,990 to $61,990

#4 Model Y Long Range from $59,990 to $62,990

#5 Model Y Performance from $64,990 to $67,990

#6 Model S Dual Motor from $94,990 to $99,990

#7 Model S Tri Motor from $129,990 to $135,990

#8 Model X Dual Motor from $104,990 to $114,990

#9 Model X Tri Motor from $126,490 to $138,990

Adding to this, Tesla and its CEO Elon Musk have not yet personally released a comment regarding their new price increases. Though experts have concluded that there are a plethora of factors to consider for the price increase. 

Recently, Elon Musk tweeted that both Tesla and SpaceX are feeling significant inflation pressure in raw materials & logistics. It should be noted that inflation is up 7.9% in the US this 2022.

READ: Grimes & Elon Musk Surprises World With 2nd Baby & Its name Is As Unique As Ever!

The inflation was mainly caused by the increasing cost of energy, food, and services, while the prices of raw materials that are used to create EVs, such as  steel, nickel, and palladium, are going up in prices due to the Russia and Ukraine war.

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