Tesla increases prices again, marking a 23% spike for the Model 3 since 2021

Tesla increased prices across the board of its electric-vehicle lineup on Monday, marking at least the sixth price hike in some models in the past year. The latest price hike reflects a 10% increased on some models, with the base Model 3 rear-wheel-drive version increasing $2,000 to $46,990, and the top Model X increasing $12,500 to $138,990. 

On Sunday, Tesla CEO Elon Musk cited inflationary pressure in a tweet.

Last week, Tesla added $1,000 to the cost of Long Range versions of its bestselling Model 3 compact sedan and Model Y compact crossover. The single-motor RWD Model 3 with 262 miles of range costs $46,990, excluding the $1,200 destination fee. That’s a $5,000 increase from last November, and an $8,800 increase from last February when it was priced at $38,190. That’s a 23% increase in Tesla’s self-proclaimed electric vehicle for the masses. Tesla originally promised a $35,000 Model 3 during its ramp up, but the rare find was officially discontinued in November 2020.

The Model 3 Long Range increases $2,500, to $54,490; the Model 3 Performance increases $3,000 to $61,990, according to The Verge. 

Both Model Y variants increase by $3,000, to $62,990 for the Long Range and $67,990 for the Performance.

The Model S Dual Motor jumps $5,000 to $99,990, while the Tri Motor increases $6,000 to $135,990. The Model X variants of the same type jump $10,000 to $114,990 for the Dual Motor and top out at $138,990 for the Model X Tri Motor, which is an increase of $12,500. 

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