Tesla has yet again raised prices on their vehicle lineup in the United States for the third time in the last month.
Here’s a recap of the changes:
Model 3
Model 3 Standard Range + increased $500 ($37,990 to $38,490)
Model 3 Long Range non-performance increased $500 ($46,990 to $47,490)
Model 3 Performance increased $1,000 ($55,990 to $56,990)
Model Y
Model Y Long Range non-performance increased $500 ($49,990 to $50,490)
Model Y Performance did not change (held at $60,990)
Model S / Model X
Model S and Model X pricing did not change (see table)
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2021 has been a volatile year for Tesla’s prices in the US, as shown in the table below. After fluctuating throughout Q1, prices on the Model 3 have now increased by $500 – $2,000 while Model Y has increased by $500 – $1,000 since the start of the year. Tesla also increased the price of the Model Y in China at the end of Q1.
Alongside Tesla’s record first quarter results, the company’s price increases over the last month may also be a sign of strong demand. After delivering nearly 5,000 more vehicles than they produced in the first quarter, Tesla’s vehicle inventory is at a mere nine days of supply. Traditionally, automaker inventories sit around 60 to 80 days of supply.
With such low inventory, Tesla could be raising prices to better balance supply and demand, or the changes could be a result of increasing costs for the automaker as supply chains issues persist in the automotive industry. Elon Musk on Thursday took to Twitter to thank Tesla’s suppliers for providing critical parts, but the company also delayed delivery estimates for some orderers of refreshed Model S vehicles, which still have not begun to be delivered.
For more of today’s Tesla news, please see the included video.
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Disclosure: Rob Maurer is long TSLA stock and derivatives.