Tesla on Wednesday raised its price in the US Model Y SUV and Model 3 According to the company’s website, Long Range sedans are off $1,000 each, and some Chinese-made Model 3 and Model Y vehicles are off by 10,000 yuan ($1,582.40).
Company get a raise price for the most affordable versions of the Model 3 and Model Y about a dozen times last year in the United States, according to data tracked by Reuters.
The US EV maker’s Model Y Long Range car prices in the US have increased by 20% compared to January 2021, along with a 10.6% increase for the Model 3 Long Range sedan during the same period.
The move comes amid soaring raw material costs, made worse by Russia’s invasion of Ukraine, and possibly thwarting the Tesla CEO’s dreams. Elon Musk and other automotive executives to deploy tram.
Rising prices of nickel, lithium and other materials threatens to slow and even temporarily reverse the long-term downward trend in costs of the battery — the most expensive part of electric vehicles — hinders wider adoption of the technology, said Gregory Miller, an analyst at industry forecasting firm Benchmark Mineral Intelligence.
($ .)first = 6,3195 Chinese yuan)
(Reporting by Hyunjoo Jin in San Francisco and Abinaya Vijayaraghavan in Bengaluru; editing by Uttaresh.V)
