Why Buying a Tesla Just Got More Expensive

Tesla has raised prices in the US for all its electric vehicles except for the Model 3, its least expensive offering. The increases, which took effect Thursday, are modest — representing hikes of between about 0.5% and 1.1%, Reuters reported.

The Model S and X vehicles were bumped up $1,000, to $88,490 and $98,490, respectively. The manufacturer’s suggested retail price for the performance versions of both cars is now $108,490.

Model Y variants, meanwhile, only increased by $250. The MSRP for the standard Model Y is now $47,490, while the long-range edition is $50,490 and the performance model is $54,490. The cost of a Model 3 remained the same, at $40,240 for the standard rear-wheel drive edition, $47,240 for the long-range version and $53,240 for the performance edition. 

This isn’t the first time the automaker has tweaked its pricing this year. In January, Tesla slashed prices by up to 20% to enable some models to qualify for the EV tax credit, which caps a car’s sticker price at $55,000. 

The prices for the various versions of the Model S and Model X were lowered between 4% and 9% in March, and knocked down another 2% to 6% in April. Later that same month, though, Tesla raised the asking price of both cars by $2,500, throwing in three years of free Supercharging if owners took possession of their vehicle before July. 

Separately, the Chinese government this week ordered a recall of more than a million Teslas, citing braking problems that could lead drivers to step on the accelerator longer than needed, increasing the risk of a collision. The recall affects all four models, but Tesla maintains the issue can be remedied with a software update.

Read On: Tesla Reports Record Sales in 2022, With 1.31 Million EVs Sold