Tesla just rejiggered the cost of its two popular EVs with a price increase. On Tesla’s website, both Model 3 and Model Y received a price hike this week, marking the fourth time company has increased the cost of these EVs.
The Model 3 Standard Range Plus got a $500 price bump across the board, which pushes the sedan to $39,690 in addition to the $1,200 destination charge.
That makes the Model 3 a $40,000 car now with the price hike, unless you decide to buy the white one. Which will keep the overall cost to just under $40,000.
Every other color still remain an $1,000 option that easily pushes the overall price of Model 3 past $40,000. The red version is a $2,000 option. The optional white and black interior is still a $1,000 option.
For Tesla owners who wants to have autonomous driving and want to have access to the Full Self-Driving (FSD) beta, it will set another $10,000 on top of the base price.
But for the Model 3 Long Range AWD, it will cost $48,690 now. The Model 3 Performance price increased to $58,190, inching closer to the $60,000 mark.
As for avid future Tesla owners, the Model Y, which is one of the cheapest version of the Long Range AWD starts at $51.690.
Fortunately, the Model Y Performance managed to escape a price bump and still sits at $62,190.
It is unclear what constituted Tesla to increase the price on Model 3 and Model Y for the fourth time. Tesla does not operate a public relations department and usually don’t respond to inquires.
Though, it might have something to do with the global semiconductor chip shortage that is causing high demand for the semiconductor, but a very limited supply is available.
In addition to that, the Model 3 production temporarily went offline last month. Tesla is not the only company that is affected by the global semiconductor shortage, the technology companies like Apple, Samsung and other is experiencing it as well.
The delivery times for Model 3 and Model Y remains prolonged and can take up to 12 weeks at this point.
The congress also is working on a new federal EV tax credit that will promote Americans to buy electric vehicles.
Once the new infrastructure bill kicks in, automakers that produces and sells cars can expect to see higher demand from the consumers for the electric vehicles.