Like everything else, Tesla EV prices are going up

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Prices for just about everything are going up. From bacon to gasoline, nearly everyone is feeling the crunch right now, and so is Tesla. Supply chain issues are squeezing the market, with many businesses struggling to stock the essential items needed to run their businesses. Some small companies are trying to figure out how best to navigate the problem, and large companies are paying more and waiting longer for needed supplies.

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Tesla also relies on microchips for its electric vehicles, and the chip shortage is one of the worst on the market. Intel has already said that its chip shortage could last into 2023, and chip prices are increasing as they are used in everything from TVs to smartphones. Sony and TSMC are working on building a new chip factory to help relieve the pressure, but that’s not expected to take seed until 2024.

Now, due to the supply chain issues everyone is facing, Tesla is increasing its prices as well, according to Engadget via Electrek:

Electrek notes Tesla has hiked prices for all four of its in-production vehicles in the past two days. The base Model 3 and Model Y variants now cost $2,000 more, and respectively start at $43,990 and $56,990. Spring for the Model S and Model X, meanwhile, and you’ll pay $5,000 more at respective prices of $94,990 and $104,990.

You’ll have to wait a long time for your order, too. The entry Model 3 arrives in June 2022 with larger wheels, and September in a regular configuration. The Model Y arrives one month earlier in both cases. You’ll have to wait until June for a Model S, and the Model X doesn’t appear until September.

Engadget

Engadget also reports that the company has not explained the price increases, but production problems associated with the supply chain are the assumed culprits.

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Last Updated on October 24, 2021.

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