Tesla again increased prices for their US auto offerings for the third time in the United States in the past month.
Here’s a summary of the changes:
Model 3 Standard Series + $ 500 raised ($ 37,990 to $ 38,490)
Model 3 Long Range non-performance $ 500 raised ($ 46,990 to $ 47,490)
Model 3 performance $ 1,000 raised ($ 55,990 to $ 56,990)
Model Y Long Range non-performance $ 500 raised ($ 49,990 to $ 50,490)
Model Y performance did not change (held at $ 60,990)
Model S / Model X
Prices for Model S and Model X did not change (see table)
Stay ahead of the competition by subscribing to Tesla Daily on YouTube.
2021 was a volatile year for Tesla’s US prices, as shown in the table below. After fluctuating during the first quarter, Model 3 prices are now up $ 500- $ 2,000, while Model Y is up $ 500- $ 1,000 since the start of the year. Tesla also raised the price of Model Y in China in late Q1.
In addition to Tesla’s record first-quarter results, the company’s price increases in the past month may also be a sign of strong demand. After Tesla delivered nearly 5,000 more vehicles than they produced in the first quarter, the vehicle’s inventory is only nine days. Traditionally, stocks from car manufacturers are approximately 60 to 80 days in stock.
With such a low inventory, Tesla could raise prices to better balance supply and demand, or the changes could be due to rising costs to the carmaker as supply chain issues persist in the auto industry. Elon Musk took to Twitter on Thursday to thank Tesla’s suppliers to deliver critical parts, but the company has also delayed delivery estimates for some purchasers of remodeled Model S vehicles, which have still not started delivery.
For more Tesla news from today, see the attached video.
Disclosure: Rob Maurer is long TSLA Stocks and Derivatives.