Tesla increases the prices of its vehicles by up to $6,000

Technology

Tesla has once again increased the prices of its electric vehicles. The entire lineup of cars has been affected, with the long-range models being hit hardest. The largest price hike, for the Model X, is a massive $6,000.

Electrek reports that Tesla’s online configurator shows price rises for select Model 3, Model Y, Model X, and Model S vehicles. The Model X Dual Motor All-Wheel Drive version got the most significant bump, jumping $6,000 from $114,990 to $120,990.

The Model S Dual Motor AWD Long Range’s price increase was also high, going up by $5,000 from $99,990 to $104,990. The Plaid version of the electric sedan stays the same price: $135,990. Meanwhile, the Model Y Long Range and Performance vehicle prices jumped by $3,000 and $2,000 to $65,990 and $67,990, respectively.

Only one version of Tesla’s most affordable car, the Model 3, has become more expensive. The Long Range version has gone from $54,490 to $57,990—a price increase of $2,500.

Tesla made regular increases to the price of its vehicles last year, but this marks the first hike of 2022. The company never gave a reason for implementing the new changes, though rising inflation along with more expensive raw materials and transportation costs are likely to be a major factor. Additionally, Tesla’s backlog of orders stretching as far ahead as 12 months could mean the company is trying to account for more expensive future manufacturing costs.

Earlier this month, Tesla boss Elon Musk sent an email to company executives calling for them to “pause all hiring worldwide” and cut employee numbers by 10% following his “super bad feeling” about the economy. He backtracked recently, saying that total headcount will increase this year while salaried staff will remain “fairly flat.”