Tesla has raised prices across its entire line-up of electric vehicles. Prices have increased by between 5 to 10 percent, with the cheapest car the company sells — the Model 3 Rear-Wheel Drive — now starting at $46,990, while its top-end Model X Tri motor saw a price increase of $12,500, from $126,490 to $138,990.
It’s the second price bump Tesla has implemented in less than a week, after it increased the cost of certain long-range models last Wednesday. However, today’s price raises are not only more substantial than last week’s but apply to every vehicle the company sells.
Here’s how those increases play out (with old prices sourced from archived copies of Tesla’s website via Wayback Machine, dated to March 10th or more recent):
- Model 3 Rear-Wheel Drive: $44,990 to $46,990
- Model 3 Long Range: $51,990 to $54,490
- Model 3 Performance: $58,990 to $61,990
- Model Y Long Range: $59,990 to $62,990
- Model Y Performance: $64,990 to $67,990
- Model S Dual Motor: $94,990 to $99,990
- Model S Tri Motor: $129,990 to $135,990
- Model X Dual Motor: $104,990 to $114,990
- Model X Tri Motor: $126,490 to $138,990
Tesla and its otherwise-garrulous CEO Elon Musk have yet to comment specifically on the new price increases, but a number of factors have likely played a part. On Monday, Musk tweeted that “Tesla & SpaceX are seeing significant recent inflation pressure in raw materials & logistics” — inflation is up 7.9 percent in the US this year, caused by the increasing cost of energy, food, and services, while the prices of raw materials used to build EVs (like steel, nickel, and palladium) are soaring in price due to Russia’s invasion of Ukraine.