Tesla increases Model 3, Model Y prices

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San Francisco, Oct 6 – Electric vehicle maker Tesla has implemented a price increase across its entire Model 3 and Model Y lineup in an overnight update to its online configurator in the US.

The price of Tesla Model 3 Standard Range Plus went from $39,990 to $41,990, Tesla Model 3 Long Range AWD price stayed at $49,990 and Tesla Model 3 Performance price went from $56,990 to $57,990, auto-tech website Electrek reported on Wednesday.

The most significant change is the $2,000 price increase to the Model 3 Standard Range Plus, which has been Tesla’s cheapest car.

Earlier this year, the same version of the car was starting at $36,990, which is a $5,000 or 13 per cent price increase for Tesla’s cheaper vehicle over just seven months.

Meanwhile, Tesla Model Y Long Range Dual Motor price went from $52,990 to $54,990 and Tesla Model Y Performance price went from $60,990 to $61,990.

The Model Y Long Range, which is the cheapest version of the electric SUV, has now seen $4,000 in price increases since April.

CEO Elon Musk had earlier said that the price increases were partly due to Tesla facing supply chain issues throughout the year, like the rest of the industry.

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