Tesla increases prices across lineup, with Model X up as much as $6,000

·2 min read

Tesla has upped its prices again, with some models increasing in price by up to $6,000. The automaker has increased prices of its luxury electric vehicles multiple times this year, including a major price hike twice in the same week in March and a smaller increase on certain Model 3s in April.

Tesla updated its online configurator on Wednesday to represent the increase in prices across its entire lineup, according to Electrek, which has been tracking the price increase. Archived copies of Tesla’s website via Wayback Machine taken as recently as April 23 confirm the difference in price.

As usual, Tesla has not provided an explanation for the increase in prices, but given the similar hikes being made by other automakers, it's probably safe to assume a combination of inflation, supply chain issues and slowed production in China are all contributing factors.

In April, during Tesla's first-quarter earnings call, CEO Elon Musk said he thought inflation was worse than reported and likely to last all of 2022. He also said global commodities supply constraints could hamper future production.

Here's a rundown of the increases in Tesla vehicles this time around:

  • Tesla Model X: The dual motor all-wheel drive Long Range Model X increased from $114,990 to $120,990 today. That's an increase of $6,000 for the electric SUV. The Model X Plaid price at $138,990 has not yet been affected.

  • Tesla Model S: The dual motor all-wheel drive Long Range Model S went from $99,990 to $104,990 on Wednesday, an increase of $5,000. Similarly to the Model X, the Plaid will remain the same price at $135,990.

  • Tesla Model Y: Both versions of the automaker's most popular model increased. The Long Range went from $62,990 to $65,990 and the Performance went from $67,990 to $69,990, an increase of $3,000 and $2,000, respectively.

  • Tesla Model 3: The Long Range increased from $54,490 to $57,990, an increase of $2,500.

Tesla's stock is up 5.48% in after-hours trading.