“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” Tesla CEO Elon Musk explained. With the company being hurt by a vicious price war with rivals that began a year ago, the company warned that its sales may decline this year as it looks to focus on the development of its next-generation EV, named “Redwood”.

The decision to raise the price of the Model Y follows Tesla’s previous decision to increase the price of the Model Y rear-wheel drive and long-range vehicles by $1,000, to $$43,990 and $48,990 respectively.

The post Tesla to Increase Model Y Price in Europe appeared first on theprimarymarket.com.

According to Reuters, the most recent price increase is the fourth this year alone. It comes as a result of many factors, including rising costs of materials like aluminum and nickel, a shortage of semiconductors, and the recent shutdown of the Shanghai factory.

The Model X saw the biggest price hike, with its Dual Motor All-Wheel Drive Long Range edition going from $114,990 to $120,990. The company’s most popular car, Model 3, was mostly kept intact, and only the Long Rage edition saw a $2,500 price increase. On the other hand, Model S was bumped from $99,990 to $104,990 despite already becoming more expensive just a few months ago. 

Speaking about the prices of Tesla electric vehicles back in April, CEO Elon Musk explained the increase by long wait lists.

“Our prices of vehicles ordered now are really anticipating a supplier and logistics cost growth that we’re aware of and believe will happen over the next six to 12 months,” he explained.

The increased costs of owning a Tesla probably won’t deter customers from trying to get their hands on one of them. It will also help the electric car maker to keep its impressive margins of up to 33 percent in the past quarter.

The post Tesla Raises Prices of Its Models in the U.S. By as Much as $6,000 appeared first on theprimarymarket.com.

“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” Tesla CEO Elon Musk explained. With the company being hurt by a vicious price war with rivals that began a year ago, the company warned that its sales may decline this year as it looks to focus on the development of its next-generation EV, named “Redwood”.

The decision to raise the price of the Model Y follows Tesla’s previous decision to increase the price of the Model Y rear-wheel drive and long-range vehicles by $1,000, to $$43,990 and $48,990 respectively.

The post Tesla to Increase Model Y Price in Europe appeared first on theprimarymarket.com.

According to Reuters, the most recent price increase is the fourth this year alone. It comes as a result of many factors, including rising costs of materials like aluminum and nickel, a shortage of semiconductors, and the recent shutdown of the Shanghai factory.

The Model X saw the biggest price hike, with its Dual Motor All-Wheel Drive Long Range edition going from $114,990 to $120,990. The company’s most popular car, Model 3, was mostly kept intact, and only the Long Rage edition saw a $2,500 price increase. On the other hand, Model S was bumped from $99,990 to $104,990 despite already becoming more expensive just a few months ago. 

Speaking about the prices of Tesla electric vehicles back in April, CEO Elon Musk explained the increase by long wait lists.

“Our prices of vehicles ordered now are really anticipating a supplier and logistics cost growth that we’re aware of and believe will happen over the next six to 12 months,” he explained.

The increased costs of owning a Tesla probably won’t deter customers from trying to get their hands on one of them. It will also help the electric car maker to keep its impressive margins of up to 33 percent in the past quarter.

The post Tesla Raises Prices of Its Models in the U.S. By as Much as $6,000 appeared first on theprimarymarket.com.