
Tesla EV Update – Model 3 & Model Y Prices Increased Yet Again

After being recalled earlier this month over loose brake caliper bolts, Tesla Model 3 and Model Y have reentered the market at a hiked price. Really does make one wonder if the recall was just a selling gimmick!

Austin Ramsey/Unsplash | Tesla’s Model 3 and Model Y prices have been increased for the fifth time within the past year
Guess we’ll never know for sure. As for the bump in rates, though, it’s happening for the fifth time this year (for the Model 3 sedans and Model Y crossovers) after a sudden drop in February 2021.
The roller-coaster of cost fluctuations
The prices, which began rising in early March 2021, continued their upward slide through April. Thereafter, they remained steady through May and rose by around $500 again in June, creating a difference of $3000 in the base value since the models’ original launch date. Currently, the starting price of the Model 3 and Model Y vehicles stands at $41,190 and $53,190, respectively.
The surprising thing through it all has been that the price change has majorly impacted the lower-range vehicles. The prices of advanced models like the Model 3 and Model Y Performance have largely remained unchanged at $58,190 and $62,190.
Several other models have witnessed a minor cost increment (approx $500), including the Standard Range Plus (the first vehicle in the Model 3 lineup) that went from $39,490 to $39,990, the Long Range AWD (Model 3 lineup), which jumped from $48,490 to $48,990, and the Long Range AWD (Model Y lineup) that escalated from $51,490 to $51,990.

Bram Van Oost/Unsplash | Several other lower-range Tesla models, have also witnessed price hikes over the past year
But what’s the reason behind so many price hikes?
As of now, the exact reason behind the surge in prices can’t be pinpointed. However, people have been making speculations for a long time that the shortage of automobile semiconductors might be causing the issue. It’s not unknown that since the pandemic began in 2020, the automotive industry’s supply chain issues have increased rapidly. But that may or may not be the cause of this problem.
Another rumor in the market indicates that Tesla has increased the prices in anticipation of a new EV rebate. Since the company hasn’t informed people about any upcoming projects, we’re guessing the first assumption might be more accurate.

Vlad Tchompalov/Unsplash | A lot of people, believe the auto-chip shortage since the beginning of the pandemic is the cause behind the frequent price hikes
Other endeavors by Elon Musk
Tesla’s CEO has a lot on his plate in 2021. Musk, who also heads SpaceX (the organization that has sent two successful orbital flights carrying astronauts to the International Space Station), is planning on launching a third mission in the fall of 2021.
He’s also working on Axiom Space’s upcoming plan. Axiom Space, a Houston-based company, purchased a trip to the International Space Station in 2020. It hopes to send a crew of four to space, including Michael López-Alegría, a former NASA astronaut, accompanied by three private citizens.
More inCar Insurance
-
`
Top 5 Boise Restaurants That You Must Dine In At Least Once In Your Lifetime
When we talk about Idaho, the northwestern state of the U.S., we tend to joke about the potatoes there. Sure enough,...
November 26, 2022 -
`
Messi’s £2.7million Car Collection That’ll Make Your Jaw Drop
Lionel Messi’s love for exotic rides is insane! The Barcelona ace owns some of the best eco-friendly and expensive cars in...
November 24, 2022 -
`
These Stunning Celebrities Need No Makeup to Shine
Michelle Williams – Dawson’s Creek TV viewers fell in love with Michelle Williams as Jen Lindley in Dawson’s Creek. Since appearing in the...
November 20, 2022 -
`
Nissan Delays Z Car Launch Due To Japan Output Plunges
Nissan Tuesday launched the seventh-generation Z-Car with a simplified lineup of two models and a streamlined name, Nissan Z. The car...
November 13, 2022 -
`
A Mechanic In South Carolina Gifts Repaired Cars To The Needy For Free!
Looking out and caring for others is what makes us humans. Unless there is no compassion for the needy, society will...
November 12, 2022 -
`
Kia To Bring About a Revolutionary Change In It’s New Gen Sportage Model
Here’s a surprise for all the car lovers. We have some super exciting news to share regarding the whereabouts of the 2022 Kia...
November 9, 2022 -
`
Everything You Need To Know About Optimal Leisure Lifestyle (OLL)
For most people, lifestyle is something that comes naturally—they do not get to choose it. For instance, if you are doing...
November 3, 2022 -
`
Sneak Peek At What The 2022 Land Rover Defender Has On Offer
It’s never easy to initiate change, and that’s especially true if a change can have a substantial impact. From the perspective...
October 31, 2022 -
`
Buying The Best Alternative Cheap Cars In 2022: Some Cheap Alternatives To Ultra-Expensive Cars
Car enthusiasm is the new talk of the town in the post-covid world. Who does not want to drive a lavish...
October 29, 2022
You must be logged in to post a comment Login