All of its models are now at least $2,000 more expensive.
If you were saving up some money to place an order for a brand new Tesla Model 3, or any other model of the electric brand's lineup, you'll be disappointed to learn that pricing for its entire offering has been handed yet another substantial price increase, with the smallest increase being a massive $2,000 while the largest hike is $12,500.
The rear-wheel-drive Tesla Model 3 with the standard range battery has been increased by $2,000 to $46,990 MSRP while the Long Range and Performance have been handed a$2,500 and $3,000 increase, respectively, now at $54,490 and $61,990. The Model Y Long Range and Performance are also increased by $3,000 resulting in asking prices of $62,990 and $67,990 each.
The Tesla Model X and Model S are unfortunately subjected to more drastic increases. The base Model S Long Range AWD will now cost you $5,000 at $99,900 while the Plaid is now $6,000 more expensive at $135,990. If you thought these were drastic increases, then you'll need to take a seat for the hikes on the Model X.
The entry-level offering for the electrified SUV is now $10,000 more expensive which brings its price up to $114,990 while the Plaid will set you back $138,990 with its $12,000 increase. To those who follow Elon Musk on social media, this should come as no surprise as he tweeted that both Tesla and SpaceX are being challenged with significant inflation pressure in raw materials and logistics.
Can we expect this price increase to make a dent in Tesla's increasing popularity? Experian's latest data shows us that the American company is on track to outdo the esteemed German manufacturers in the luxury segment for 2022. So far it leads the race with 37,162 vehicles registered in January alone. However, we've already seen what massive price hikes can do for investor confidence after the recent Rivian debacle. Hopefully, Tesla can avoid the same fate.
If this price hike doesn't deter you from diving into the world of Tesla ownership, you may want to consider ticking the $12,000 full self-driving capability as it has been recorded to speed up the delivery time by as much as four months on certain models.