Tesla has raised the price of its vehicle range in the United States for the third time in the past month.
Here is a summary of the changes:
Model 3
Model 3 Standard Series + $ 500 increased ($ 37,990 to $ 38,490)
Model 3 Long Distance Malpractice $ 500 increased ($ 46,990 to $ 47,490)
Model 3 Performance $ 1,000 increased ($ 55,990 to $ 56,990)
Model Y
Model Y Long Distance Malpractice $ 500 increased ($ 49,990 to $ 50,490)
Model Y Performance has not changed (held at $ 60,990)
Model S / Model X
Model S and Model X prices has not changed (see table)
Stay up to date by subscribing to Tesla Daily on YouTube.
2021 was a volatile year for Tesla’s US prices, as shown in the table below. After the fluctuation during the first quarter, prices on Model 3 have now risen by $ 500- $ 2000, while Model Y has risen by $ 500- $ 1,000 since the beginning of the year. Tesla also increased the price of the Model Y in China at the end of the first quarter.
In addition to Tesla’s record results for the first quarter, the company’s price increases over the past month may also be a sign of strong demand. After delivering nearly 5,000 vehicles more than they produced in the first quarter, Tesla’s vehicle inventory is just nine days ahead. Traditionally, the stock of car manufacturers lasts about 60 to 80 days.
With such a low inventory, Tesla could raise prices to better balance supply and demand, or the changes could be due to rising costs for the automaker, as supply chain issues continue in the automotive industry. Elon Musk appeared on Twitter on Thursday to thank Tesla’s suppliers for the supply of critical parts, but the company is also delaying the delivery estimates for some customers of refurbished Model S vehicles, which have not yet started delivery.
For more information on today’s Tesla news, see the included video.
—
Disclosure: Rob Maurer is a longtime TSLA stock and derivatives.