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Tesla Increases Pricing for Model S, Model Y, and Model 3

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【Summary】The Tesla Model S Plaid Plus gets the largest price hike we’ve ever seen from the brand, as pricing for the sedan has gone up by $10,000.

Original Vineeth Joel Patel    Mar 14, 2021 8:00 AM PT
Tesla Increases Pricing for Model S, Model Y, and Model 3

Tesla is one of the few automakers that changes the prices of its vehicles on a whim. The most recent change in pricing came in February when Tesla reduced the price of the base Model 3 by $1,000 and the entry-level Model Y by $2,000. Top-ranging Performance trims for both vehicles actually went by $1,000. At the time, we thought the price changes were because of the introduction of the Chevrolet Bolt EV and Bolt EUV.

Higher Prices Are Here

Unfortunately, consumers are just as likely to see price increases as decreases. While Tesla cut prices in February, it's now raising them again. Take a look at Tesla's website, and you'll notice that pricing for the Model S, Model 3, and Model Y have gone up.

For the Model Y, the price change affects the Long Range trim. The entry-level Model Y is now priced at $51,190 (including destination), which is a $1,000 increase in pricing. The Model Y Performance continues to cost the same amount at $62,190.

Consumers looking to purchase a Model 3 will find that pricing for the sedan has gone up by a modest $500 for the Standard Range Plus trim, as it now costs $38,690. The mid-level Long Range trim has also seen a $500 increase, now carrying a starting price tag of $47,690. The range-topping Model 3 Performance doesn't see an increase in pricing, continuing to cost $57,190.

Hold Your Breath

Now, onto the Model S. While pricing for the Model 3 and Model Y have gone up by a reasonable amount, Tesla has thrown the handbook out the door for the Model S Plaid Plus. The vehicle was already incredibly expensive, but Tesla didn't notice, as it's increased pricing for the sedan by an additional $10,000. That means the vehicle costs $151,190. The automaker didn't provide any reasoning for the massive increase in pricing.

The modest price increases for the Model 3 and Model Y will affect more buyers, as those are Tesla's more affordable options and are the gateway vehicles into the automaker's electric-vehicle realm. Tesla still has some of the more expensive EVs on the market and increasing the base price of its affordable models isn't something that will draw consumers in.

Then, there's the issue with the Model S Plaid Plus. Tesla knows that there's nothing else like it on the market and that its price tag makes it a vehicle for a select few. So, it can charge whatever it wants. With an estimated range of roughly 520 miles, 1,100 horsepower, a zero-to-60 mph time of less than 1.99 seconds, and a top speed of 200 mph, no other electric vehicle can match the Model S Plaid Plus. We're sure some wealthy EV lovers out there won't bat an eye at its increased price.

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