Tesla Increases Model 3, Y Prices

It’s the seventh increase this year.

Tesla has increased Model 3 and Model Y prices yet again. This time it’s the dual-motor Long Range versions that have seen a price rise.

Both the LR Model 3 and Y are now $1,000 extra, starting at $49,990 and $53,990 respectively. If you look further back, the LR Model 3 is now $3,500 more than it was earlier this year. Meanwhile, the LR Model Y is $4,000 more than it was a number of months back.

No specific reason was given for the prices rises. However, following a previous increase earlier this year Tesla CEO Elon Musk stated supply chain issues as a cause. And as we all know, the global chip shortage is prevailing.

What are your thoughts on all the sudden price increases? Are they justified, especially given no other OEMs are increasing prices to the same extent as Tesla? Let us know your thoughts in the replies section below.

Image via Tesla Motors