Tesla Australia's price hike will happen again this 2023.
(Photo : Photo by Spencer Platt/Getty Images)
Tesla vehicles are displayed in a showroom in Manhattan on April 04, 2019 in New York City. Tesla announced a first quarter 31% drop in vehicles that were delivered to customers compared to the prior quarter. The news caused the stock to drop approximately 8%.
Previously, the Australian market also experienced cost increases in Tesla EV models.
The price adjustment made for the Tesla Model 3 was just $400.
The giant automaker did this just weeks after it conducted price cuts.
However, Tesla decided to increase the price of its EVs once again. Just like before, the cost adjustment is $400 higher.
Tesla Australia Price Hike 2023
According to The Driven, not all Tesla models are affected by the latest price hike in Australia.
(Photo : Photo by Spencer Platt/Getty Images)
A Tesla model S sits parked outside of a new Tesla showroom and service center in Red Hook, Brooklyn on July 5, 2016 in New York City. The electric car company and its CEO and founder Elon Musk have come under increasing scrutiny following a crash of one of its electric cars while using the controversial autopilot service.
Also Read: Tesla Recalls 362,000 EVs to Fix Full Self Driving Beta Update That May Cause Crashes
The versions that will experience price increases are those with dual-motor.
To give you more idea, here are the exact price changes in Tesla Model 3 and Tesla Model Y with dual motors:
- Tesla Model 3 Long Range (from $76,900 to $77,300)
- Tesla Model 3 Performance (from $89,900 to $90,300)
- Tesla Model Y Performance (from $94,900 to $95,300)
Car enthusiasts explained that the price hikes conducted by Tesla show that the EV demand in Australia is getting stronger.
While this is a good thing for the giant EV maker, it is bad news for the traditional luxury car brands in the Australian market.
Critics said that if competitors still want to be competitive, they need to pay attention to the price hikes and cuts conducted by Tesla.
Why Tesla Raises EV Prices
Aside from Australia, InsideEVs reported that the U.S. market also experiences price increases.
For example, the Tesla Model Y Long Range, the cheapest Model Y variant in the United States, is $500 higher than its original price.
EV experts explained that Tesla conducts price hikes in different markets so that the number of orders can be slowed down.
They added that although the cost adjustments are not thousands of dollars, these can still alert customers.
This means that consumers will be informed that the EV maker can increase the prices of its Tesla models at any time.
Other stories we recently wrote about Tesla:
Previously, a new Tesla Cybertruck prototype with triangular side mirrors was spotted.
We also reported about the upcoming Tesla Giga Shanghai production ramp-up.
For more news updates about Tesla and other automakers, always keep your tabs open here at TechTimes.
Related Article: Tesla Project Highland: Why This Model 3 Evolution Is a big deal for EV Maker
