Tesla raises prices, again

Illustration by Alex Castro / The Verge

The price of the Model 3, Model Y, Model X, and Model S vehicles have been raised. The Model X dual motor all wheel drive version saw a $6,000 increase from $114,000 to $120,000, while the Model S dual motor all wheel drive version increased by $5,000. The Model 3 was spared from the most serious increases.

There is an increase in one version of the Model 3 The price of the long range version of the Model 3 went up by $2,500. The cheapest version of the Model 3, the Rear-Wheel Drive model, is not changing. During the last round of price increases in March, the price was raised to that point.

Screenshot: Tesla.com

The Performance model is going up by $2,000 and the Long Range model is going up by $3,000.

In the last few years, price increases like these have been fairly common. The cost of raw materials and the global chip shortage were blamed on supply chain pressures by the company's CEO. Inflation and transportation costs in the US and around the world put upward pressure on the manufacturer's bottom line. Musk hasn't commented publicly about the price increases.

The situation was very different a few years ago when the price of the Model 3 was slashed in an attempt to make it an affordable option for the mass market. The company used to be targeting a starting price of $35,000.