Tesla Implements Price Increase Across Model 3 And Model Y Lineup Amid Supply Chain Constrain

Tesla

Electric car market Tesla has announced to revise the prices of Model 3 and Model Y. The company has increased the price of the two models. The hike applies to the entire lineup of the two models. Telsa has updated its online configurator about the hiked price. The Model 3 Standard Range Plus will not cost USD 41,990 in the US. Earlier, it was available for USD 39,900. Likewise, Model 3 Performance will come at a price tag of USD 57,990 against USD 56,990. The price of Long-Range AWS is USD 49,990. The Standard Range Plus has become costlier by USD 2,000. The starting price of the model was USD 37,990. It is the cheapest car that Tesla offers.

Accordingly, Model Y variants will also become costlier. The company said that Long Range Dual Motor has become dearer by USD 2,000. Its price is now USD 54,990. The earlier price was USD 52,990. Model Y Performance will cost USD 1,00 extra. Its price has been increased from USD 60,990 to USD 61,990. The Long Range model has also become costlier. It is touted to be the cheapest electric SUV. The vehicle has seen a jump of USD 4,000 in its price since April this year. The company has said that it increased prices because the company was facing issued with the supply chain. The automobile industry is also facing supply chain constrain due to chip shortages.

Meanwhile, Tesla has made a new record in the delivery and production of cars in the third quarter. The company said that it delivered 2,41,300 vehicles. The delivery numbers surpassed the previous record of 2,01,250 in the second quarter of the current financial year. Tesla managed to maintain the delivery momentum despite chip shortages and issues with the supply chain. Notably, Tesla CEO Elon Musk had earlier said that it will be the craziest month for the company despite the company facing production issues. According to the company, deliveries of Model 3 and Y were overwhelming in the quarter despite logistical challenges. The two models accounted for more than 96 percent of sales.

About the Author

Steven Burnett
Being one of the leading news writers of the dailyheraldbusiness, Steven holds a specialization in the domains of business and technology. The passion he has for the new developments in the connected devices, cloud technology, virtual reality, and nanotechnology is seen through the latest industry coverage which is done by him. His take on the consequences of digital technologies across the world gives his writing a modern and fresh outlook.

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