Prices for the Model 3 and Model Y increase by US$2,000, while both the Model S and Model X are now US$5,000 more expensive
When demand exceeds supply, prices tend to rise. Perhaps this is what is currently happening at Tesla, which has raised prices of all four of its models due to increased demand that sees deliveries of new vehicles pushed deep into next year. This comes a few days after the automaker’s market valuation surpassed the US$1 trillion mark for the first time in history.
According to its website, prices of the Model S Long Range and Model X Long Range have been increased by US$5,000 (RM20,707), from US$89,990 (RM372,693) to US$94,990 (RM393,401) for the former and from US$99,990 (RM414,108) to US$104,990 (RM434,816) for the latter.
Meanwhile, the Model 3 Standard Range Plus and Model Y Long Range now cost US$2,000 (RM8,283) more. The fastback four-door sedan went from US$41,990 (RM173,901) to US$43,990 (RM182,184), while the small SUV went from US$54,990 (RM227,741) to US$56,990 (RM236,024).
Despite Tesla hitting an unprecedented vehicle production volume of 237,823 units in Q3 2021, customers will have to wait a long time to receive their cars. Engadget reports that the Model 3 with larger wheels is expected to arrive in June 2022, while the regular configuration version in September. The Model Y, both with larger wheels and in regular configuration, will arrive one month earlier in May and August.
Meanwhile, customers who purchase the Model S have to wait until June, while those who order the Model X have no choice but to wait longer until September.
As yet, Tesla hasn’t explained the latest round of price hikes, though we suspect they have largely to do with the disrupted production it suffered in the first half of this year. Surging demand also plays a huge role and by increasing the prices of its vehicles, Tesla hopes it can curb demand and catch up with orders.
This price increase will not likely affect Malaysia as we only get recond models, and older ones at that. However, the same cannot be said for Singapore, where Tesla vehicles are sold through an official channel.
