Tesla has once again raised the price of multiple Model 3 and Model Y configurations.
Model 3 Standard Range Plus now starts at $38,990, a price increase of $500 and a cumulative increase of $2,000 compared to February’s pricing. This comes without any changes, and remains the same redesigned 2021 Model 3 with the exception of a new trim on the door panels that was added with the previous price increase two weeks ago.
Similarly, Model 3 Long Range All-Wheel Drive saw its price increase $500 to $48,990. Meanwhile Model 3 Performance remains at $56,990.
The starting price of Model Y is $11,000 higher than it was in February when Tesla offered a Standard Range configuration. Currently Model Y starts with a base Long Range All-Wheel Drive configuration, which saw its price increased from $50,490 to $50,990.
Model Y Performance is unaffected at $60,990.
With a delivery window for Model 3 remaining at 7-10 weeks and nonexistent new inventory it’s clear that this is most likely a case of demand exceeding supply. As long as Tesla is selling Model 3 and Model Y quicker than it can produce them they’ll likely continue raising prices.
There is also speculation that Tesla is preparing for an updated federal tax credit, although that likely wouldn’t take effect until next year.
Considering how often Tesla used to lower pricing, we shouldn’t be so surprised to see the same changes happening in the other direction. Still, this is unpredictable and comes without real precedent.
It’s possible Tesla may continue this trend, and we could speculate that we’ll see Model 3 Standard Range Plus back at $39,990 within a couple of weeks.
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