Tesla cars are more expensive now, price hike by 21 percent !

Tesla increased the cost of their 3 SR+ by 21 per cent since December 2020.

Electric vehicle manufacturer Tesla has boosted the cost of its Model X Long Range and Model S Long Range variants by $5,000.

The US-based EV major has revealed a new price hike for all its cars in the US market. Tesla has also notified that some of their models required a bit more waiting period.

The Model X Long Range and Model S Long Range now cost $104,990 and $94,990 respectively.

Tesla CFO Zachary Kirkhorn

Tesla CFO Zachary Kirkhorn says, “the great thing that we’re seeing in the space right now is there appears to just be quite a profound awakening of the desirability for electric vehicles. And I mean, to be totally frank, it’s caught us a little bit off guard. … Folks want to buy an electric car and folks want to buy a Tesla right now. It’s very exciting for us.”

“We are putting in extreme effort to build as many cars as we possibly can. It’s hard to overstate how extreme the efforts are. It’s quite the grind. We’re trying as hard as we can to maximize that capacity and to be able to meet the demand that we’re receiving. But the net-net of all of this is that we’re not able to increase production capacity fast enough.”

Model X Long Range

“Our backlogs are continuing to grow and average customer wait times are extending,” Kirkhorn added. He also added that if someone orders a Tesla, the wait time “could be a couple of months, or it could be a couple of quarters.”

According to Kirkhorn, “it remains our target in both Austin and Berlin to be able to build our first production cars before the end of the year … and it’s possible that we’re spending the bulk of next year working on ramping these factories.”

“Our goal is to get to millions of cars per year over the next couple of years and then ultimately, in the long term, be able to achieve 20 million cars per year. We’re going to grow as quickly as is feasibly possible with an eye toward a 50% annual growth rate.” he concluded.

Model S Long Range

The new cost for the Model Y Long Range and Model 3 Standard Range Plus rose by $2,000, to $56,990 and $43,990 respectively.

Tesla also announced the price hike for its cars in the Chinese market as well.

One of the most popular Tesla cars, the Model 3 compact sedan’s Standard Range Plus variant got a five per cent price hike by $2,000.

Also those who wish to buy this model should wait almost a year. This means consumers have to wait till September 2022 to get the car on their porch.

Tesla’s other EV like Model Y Long Range AWD, Model S Long Range AWD and Model X Long Range AWD too got a price hike up to 5.6 per cent.

Model Y Long Range AWD

The Tesla Model Y Long Range EV has seen many price hikes in this year 2021. In between January and July only, it’s price hiked by six times.

Due to the increased raw material costs and other input costs are the reasons behind the latest hike in Tesla electric cars.

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