Tesla has once again raised prices on their range of vehicles in the United States for the third time in the last month.
Here is a summary of the changes:
Model 3
Model 3 Standard Range + increased $ 500 ($ 37,990 to $ 38,490)
Long – term malfunction of model 3 increased $ 500 ($ 46,990 to $ 47,490)
Model 3 Performance increased $ 1,000 ($ 55,990 to $ 56,990)
Model Y
Y Long Range model malfunction increased $ 500 ($ 49,990 to $ 50,490)
Model Y Performance has not changed (owned at $ 60,990)
Model S / Model X
Prices for S and Model X models has not changed (See table)
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2021 was a volatile year for US Tesla prices, as shown in the table below. After fluctuations throughout the first quarter, the prices of the Model 3 have now increased by 500 – 2,000 USD, while the Model Y has increased by 500 – 1,000 USD since the beginning of the year. Tesla also raised the price of the Y model in China at the end of the first quarter.
Along with Tesla’s record first-quarter results, the company’s rise in prices over the past month could also be a sign of strong demand. After delivering nearly 5,000 more vehicles than they produced in the first quarter, Tesla’s vehicle inventory is just nine days away. Traditionally, vehicle manufacturers’ stocks are around 60 to 80 days of supply.
With such a low inventory, Tesla could raise prices to better balance supply and demand, or the changes could be the result of rising costs for the manufacturer, as supply chain problems persist in the automotive industry. Elon Musk joined Twitter on Thursday to thank Tesla suppliers for the supply of critical parts, but the company also delayed delivery estimates for some upgraded Model S vehicle commanders, which have not yet begun to be delivered.
For more news about Tesla today, please see the included video.
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Disclosure: Rob Maurer is long action and derivative TSLA.