Tesla once again announced that it would be increasing the pricing of the Model 3 and Model Y EVs. The recent surge has prompted the company to conclude a price increase of more than 20% in just 2021.
To know the current value of electric cars, here's everything you need to know about this change.
Tesla Model 3 and Model Y Subject to Another Price Jump
MIAMI, FLORIDA - JANUARY 03: The Tesla name is seen on the exterior of a dealership on January 03, 2019 in Miami, Florida. Tesla Inc. shares have fallen as the company reported fourth-quarter Model 3 deliveries just below estimates and said it would lower the price of its cars.
Electrek reported on Thursday, Nov.4 that across the year, the EV maker has already done several price alterations on its cars for this year. Before this price increase, the most recent change took place last month for similar models.
Right now, Tesla is planning to jack up the value of its cheapest cars in the market. The firm said that it will not only present new pricing for the said EVs, but it would also add new standard paint.
Furthermore, the Solid Black variant now sits at $1,500--an additional $500 is included. The new option is the Midnight Silver Metallic.
Read Also: Tesla Model 3, Model Y Prices' Increase For Seventh Time This Year
Updated Pricing For Tesla Model 3
After undergoing several price increases this 2021, the Model 3 car has another one in its book.
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Tesla Model 3 Standard Range Plus: from $43,990 to $44,990
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Tesla Model 3 Long Range AWD:from $49,990 to $50,990
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Tesla Model 3 Performance: from $57,990 to $58,990
Meanwhile, the Model 3 Rear-Wheel Drive which is formerly known as the Model 3 Standard Range Plus has already faced a 21% price growth so far. Over the past months, it was only priced at $37,000, but now it quickly spiked to $45,000.
According to anonymous sources who knew Tesla's plans, the standard features such as heated rear seats and steering wheel will be available in the base Model 3 version.
Updated Pricing For Tesla Model Y
Along with some changes for the Model 3, the prices for Model Y cars have also accelerated. Check this out.
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Tesla Model Y Long Range Dual Motor: from $56,990 to $57,990
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Tesla Model Y Performance: from $61,990 to $62,990
With that, the company also announced that it will change the original timelines of delivery for the said vehicles.
Tech Times mentioned in an October report that the price increases of Tesla were linked to the supply chain problems that happened back then. Since these issues arose in 2021, its gross profit plunged as low as 19%. Another big obstacle for the carmaker is the shortage of chips that are still hitting tech giants.
Tesla Investment Over the Past Decade
According to CNBC's calculations, if you bought Tesla's stocks in 2011, you could potentially gain a five-figure profit at the moment. In the same month ten years ago, your $1,000 investment could have grown already to $204,000.
For the said duration, that's a $1,229 increase in the stock price. To add, it recorded an overall return of 20,000%.
Related Article: Tesla Model S, Model X Long Range Price Increases Again by $5,000
This article is owned by Tech Times
Written by Joseph Henry
