Tesla Hikes Model 3, Model Y Prices In US Yet Again

Benzinga2021-07-23

Tesla Motors has once again hiked the prices of some of its Model 3 and Model Y vehicles in the United States.

What Happened:TheElon Musk-led company’s latest price hike is a steep $1,000 for the Long Range editions of both Model 3 and Model Y, as per the company’s website.

The Price Hike:The Model 3 Long Range price now starts at $49,990 and the Model Y Long Range at $53,990.

The estimated delivery time for Model 3 Long Range is 10 to 16 weeks, while for Model Y LR the company website doesn't give any estimated delivery time.

Tesla CEO made the comments after customers complained about the price increases for the Model 3 and Model Y vehicles despite Tesla removing features such as the lumbar support on the passenger seat of the Model Y.

Loup Ventures Managing PartnerGene Munsterhad earlier this month saidFord Motor CoFand Tesla willcontinue to face lower inventoriesfor new vehicles due to the global chip and component shortages and the delivery time between two to three months for the Model 3 and Model Y.

Global supply chain issues, including the global chip shortage, have hit automakers the most, forcing them to halt production lines. Tesla had halted production at its Fremont, California, plant in February for two days because of what Musk called “parts shortages.”

Price Action:Tesla shares closed 0.92% lower at $649.26 on Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

plain_paper
2021-07-24
plain_paper
There is only I thing left to do. Go long.
lionhearted
2021-07-23
lionhearted
?
MikeSeah
2021-07-23
MikeSeah
Hi
SUSU
2021-07-23
SUSU
hi
ZOANMAN
2021-07-23
ZOANMAN
Like me
- MikeSeah:
  Like
kino318
2021-07-23
kino318
Please like and comment
- Dazy:
  ?

Leave a comment

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