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Tesla Discreetly Raises the Price of Its Entire Lineup

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【Summary】All of Tesla's electric vehicles go up in pricing, with the Model S and Model X going up by $5,000 each.

Original Vineeth Joel Patel    Oct 30, 2021 7:30 AM PT
Tesla Discreetly Raises the Price of Its Entire Lineup

The year of Tesla consistently changing the prices of its vehicles continues. Over the weekend, Tesla decided to change the pricing of all four of its electric vehicles. That means the Model 3, Model Y, Model S, and Model X are all more expensive than before. The automaker's smaller, more affordable options get smaller increases than its large vehicles.

Prices Continue To Go Up

Let's start with Tesla's more popular choices. Earlier this week, CNET's Roadshow reported that the Model 3 and Model Y received a $2,000 increase in pricing. For the Model 3 Standard Range Plus, the price increase meant that the vehicle started at $45,190 (with destination). Strangely, if you look at Tesla's website now, the Model 3 is now priced at $46,690. If true, that means the Model 3 has seen its price go up twice in the matter of one week.

It's a similar situation with the Model Y Long Range trim. The outlet claims the compact SUV received a $2,000 price increase to go up to $58,190. But, Tesla's site shows that the Model Y actually costs $60,190. That's an increase of $4,000. Again, this means that Tesla has changed the price of the Model Y twice in a week.

The situation isn't the same for the Model S and Model X. The price of these vehicles hasn't gone up from a week ago. The Model S Long Range goes up by $5,000 to $96,190, while the Model X Long Range now starts at $106,190, which is also an extra $5,000. Strangely enough, Tesla also altered the Model S sedan's pricing a few weeks ago. That model has had a tumultuous year to say the least. Earlier this year, the Model S cost just $70,620. So pricing for the large sedan has changed radically in 2021.

Supply Issues To Blame

Random vehicle prices aren't new for Tesla, but seeing prices change week to week is odd. While Tesla won't come out and say it, we think the changes have to do with the ongoing semiconductor shortage. The majority of Tesla's vehicles now have delivery dates in 2022, as the automaker continues to deal with supply chain issues. With Tesla working on getting its Berlin-Brandenburg and Austin plants up and going, we don't think production issues will be a long-term thing. But until then, Tesla knows that its buyers are willing to pay extra money for a vehicle now and is more than happy to charge them extra.

Tesla can raise the prices of its vehicles as much as it wants to. We don't think the changes will affect its customer base. In the first half of 2021, Teslas accounted for more than half of all new EV registrations. With the chip shortage and the possibility of a magnesium shortage, we expect Tesla to change its prices again before the end of the year.

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