Tesla has increased the prices of its electric vehicles for the second time in less than a month. Following a $1,000 price increase on some long-range models last week, the automaker has now implemented a much larger price increase across its entire lineup.
According to Electrek, the base Model 3 now starts at $46,990, which is $2,000 more than before. The Model 3 Dual Motor All-Wheel Drive is now $2,500 more expensive at $54,490, and the Model 3 Performance is $3,000 more expensive at $61,990.
YOU MAY ALSO LIKE: Tesla Said It’ll Disable In-dash Video Games While Its Cars Are In Motion
Meanwhile, the Long Range version of the Model Y now starts at $62,990, which is $2,000 more than before. Tesla has also increased the price of the Performance version by $3,000, making it $67,990 now.
Tesla has added $5,000 to both Model S options’ previous prices, so you’ll have to spend at least $99,990 for one. However, none of the other EVs received a price increase as significant as the Model X, which now costs $10,000 more at $114,990.
Although car manufacturing company quietly raised prices overnight, the move was not unexpected. Elon Musk, the company’s CEO, hinted at a price increase on Twitter.
Both Tesla and SpaceX, he claims, are experiencing “significant recent inflation pressure in raw materials [and] logistics.” He didn’t go into detail, but he linked to an article about commodity prices skyrocketing due to concerns about a shortage of raw materials exported by Russia.
MORE FROM RAVZGADGET: Tesla Requires Full Self Driving Testers To Allow Video Collection In The Event Of A Crash
Nickel is one of the materials impacted by Russia’s invasion of Ukraine, with prices skyrocketing and more than doubling since the war began. Russia is a major supplier of the metal, which is a key component of lithium-ion batteries used by Tesla and other electric vehicle manufacturers.
Tesla & SpaceX are seeing significant recent inflation pressure in raw materials & logistics
— Elon Musk (@elonmusk) March 14, 2022
Furthermore, Electrek reports that Tesla is experiencing a massive surge in new orders as a result of the increased interest in electric vehicles caused by the rise in gas prices.