Tesla hikes car prices in the US, all models become pricier

Tesla Model Y long-range price has increased to $65,990 from $62,990.
By : HT Auto Desk
| Updated on: 16 Jun 2022, 02:55 PM
Tesla cars have become pricier owing to the rising cost of raw materials.
Tesla cars have become pricier owing to the rising cost of raw materials.
Tesla cars have become pricier owing to the rising cost of raw materials.
Tesla cars have become pricier owing to the rising cost of raw materials.

Tesla has increased the pricing of all its car models in the United States. The automaker's move to increase the price of all its electric vehicles comes amid the ongoing supply chain crisis. This is not the first time Tesla has increased the price of its cars in recent times. A few months back as well, the automaker announced a price hike for its vehicles. With this latest price hike of Tesla cars, all the EVs from the US automaker will become pricier.

(Also read: Vehicles queue up at petrol pumps in Kashmir amid fuel shortage rumors)

The electric carmaker has increased its Model Y long-range price to $65,990 from $62,990, as its official website has shown on Thursday. This comes after delaying the deliveries of some long-range models in the United States by up to a month.

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The price hike comes after Tesla CEO Elon Musk warned about the risk of a recession in recent weeks. he also indicated that the supply chain disruption has been impacting Tesla's production and sales massively. Clearly, it was an indication of the price hike that has been implemented. The price hike comes as costs of raw materials have surged, including aluminium that is used in cars. Apart from that other components such as microchips and other raw materials too have been facing rising prices.

Tesla's CEO also indicated that the auto company may reduce its workforce by around 10 per cent.

First Published Date: 16 Jun 2022, 02:55 PM IST
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