Lauren Ramesbottom

Lauren Ramesbottom

March 17, 2022 5:16 pm


In case you missed it, Tesla has increase its prices on not just one, but all of its vehicles — and this increase hasn’t happened once, it’s happened multiple times over the last year amidst supply chain challenges and rising production costs. Just this week, Tesla fans noticed that the automaker once again increased prices across its lineup; specifically, the base Model 3 (RWD) is now advertised at $61,380. The Model 3 Long Range is now $71,990, making the model ineligible for federal and provincial incentives.

The Model Y Long Range now start at $82,990, an increase of $4,000, while Performance now starts at $89,290, an increase of $4,000.

Tesla Model Y

Tesla Model Y

Looking across the rest of the lineup, the Model S starts at $128,990, which is $7,000 more, and the Model S Plaid is $177,990, $8,000 more. The Model X sees a price jump of $14,000 to $146,990, and the Plaid version comes in at $146,990, $14,000 more.

Tesla has not specifically addressed this pricing overhaul to potentially shell-shocked consumers, but CEO Elon Musk recently took to Twitter to allude to challenges currently faced by the company. Specifically, Musk noted that Tesla is facing “significant inflationary pressure in raw materials and logistics”, as the cost of fuel, nickel and other metals used in auto manufacturing are rising in cost.

This is also indicative of an industry-wide trend, as the US Consumer Price Index has revealed that the average price of a new vehicle rose 12 per cent over the last year, while used-car prices shot up 41 per cent.

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