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Tesla price increases strike again, Model 3 and Model Y Long Range more expensive

Roadshow logo Roadshow 7/23/2021 Sean Szymkowski
a airplane that is driving down the road: The EVs are even pricier now. Tesla © Provided by Roadshow The EVs are even pricier now. Tesla

Tesla on Thursday instituted another round of price increases for its two most popular electric cars, the Model 3 and Model Y. The Street first reported on the price bumps, which sees the Model 3 and Model Y Long Range variants creep upward by another $1,000. Now, the Model 3 Long Range is a $51,190 EV after a $1,200 destination charge. The Model Y Long Range now costs $55,190 after the destination charge.

a car parked on the side of a road © Tesla

While these prices increases began as $500 here, $1,000 there, the Long Range variants now cost $3,000 more than they did at the start of this year. Tesla CEO Elon Musk said in June the numerous price increases are due to "major supply chain price pressure industry-wide," when responding to a Twitter user. Tesla does not operate a public relations department to field requests for comment.

Tesla, like other automakers, is facing supply chain woes amid the chip shortage as the ever-important components remain scarce. 

For now, the Model 3 Standard Range remains untouched in the latest price increases. It still costs $41,190, though the price is up $2,500 since March. The Model S and Model X prices also hold steady.

Tesla Model 3 remains the gold standard for electric sedans

a car driving on a road

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This was originally published on Roadshow.

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