Tesla again increases prices of its Model 3 and Model Y EVs

It has been a roller coaster ride for the prices of Tesla Model 3 and Model Y as the last few months saw some small but recurring increases. Currently, if one wants to buy get a Tesla, the cheapest model will come at $39,990. The electric carmaker made many changes to the prices of these models in February. At first, it went, continuing the streak till early March but it surged later in the month.

At the beginning of this month after a rise in the prices of these models, Tesla has again taken it to the next level. The prices of Tesla’s Model 3 Standard Range Plus and Model 3 Long Range AWD saw an increase of another $500 but the price of the Model 3 Performance remained the same - $56,990. Tesla Model 3 Standard Range Plus will now cost $38,990 whereas Tesla Model 3 Long Range AWD can be bought at $48,990. The electric carmaker's most affordable piece that is Model 3 Standard Range Plus saw a significant increase of $2,000 and hence the price stands at $39,990. By far, this is the fifth time Tesla increased the prices.

The company currently sells only two versions of the Model Y after it discontinued the production of the Standard Range version only weeks after its launch. Price of Tesla’s Model Y Long Range AWD now stands at $51,990 from its last price of $51,490. The price of the other model in this range that is Tesla Model Y Performance remains at $60,990. As per a report by Electrek, these steady increase may be an outcome of the cost increase in the supply chain that has been hit by the global semiconductor shortage.

(with inputs from Reuters)