Tesla has once again raised the prices of their vehicle lineup in the US for the third time in the last month.
Here is an overview of the changes:
Model 3 Standard Range + increased $ 500 ($ 37,990 to $ 38,490)
Model 3 Long-range lack of performance increased $ 500 ($ 46,990 to $ 47,490)
Model 3 performance rose $ 1,000 ($ 55,990 to $ 56,990)
Model Y Long Range lack of performance increased $ 500 ($ 49,990 to $ 50,490)
Model Y performance did not change (held for $ 60,990)
Model S / Model X
Model S and Model X prices did not change (see table)
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In addition to Tesla’s record results in the first quarter, the company’s price increases over the last month may 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’ delivery. Traditionally, the car manufacturer’s inventories are around 60 to 80 days delivery.
With such a low inventory, Tesla could raise prices to better balance supply and demand, or the changes could be a result of rising costs for the automaker as supply chain problems continue in the automotive industry. Elon Musk took to Twitter on Thursday to thank Tesla’s suppliers for delivering critical parts, but the company also delayed delivery estimates for some purchasers of updated Model S vehicles, which have still not begun to be delivered.
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Disclosure: Rob Maurer is long TSLA stock and derivatives.