Tesla Model 3 and Model Y go through latest round of price increases

Tesla has rolled out its latest round of price adjustments for the Model 3 and Model Y. The adjustments affect the entire Model 3 line, as well as the Model Y Long Range Dual Motor AWD. 

As per Tesla’s official website, the Model 3 Standard Range Plus has received a $500 price increase, with the vehicle now starting at $38,490 from $37,990. The Model 3 Long Range Dual Motor AWD also received a $500 price increase, with the car now starting at $47,490 from its previous $46,990. 

Credit: Tesla

Finally, the Model 3 Performance, the all-electric sedan’s top-of-the-line variant, received a $1,000 price increase, with the car now starting at $56,990 from $55,990. 

On the Model Y’s side, Tesla has adjusted the Long Range Dual Motor AWD variant’s price by $500. With this increase in place, the Model Y Long Range Dual Motor AWD now starts at $50,490 from its previous price of $49,990. The top-tier Model Y Performance’s price, unlike its sedan counterpart, did not receive a price adjustment, with the vehicle still starting at $60,990. 

Tesla’s Model 3 and Model Y prices have fluctuated this year, with the company implementing several price increases in the past month. The same was true with Tesla’s cars in China, with the Model Y receiving a price increase during the first quarter.

While very volatile, Tesla’s price adjustments may hint at solid demand for the company’s cars. As per a report from The Street, Tesla’s vehicle inventory is at a mere nine days of supply. This contrasts positively against traditional automakers, which typically have inventories sit around 60-80 days of supply. With this in mind, Tesla’s price increases could be seen as a way for the company to balance supply and demand better. 

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