Tesla Inc (NASDAQ: TSLA) on Wednesday raised the prices of some of its electric vehicles for the third time in less than a month in the United States, as the company grapples with inflationary pressure and logistical snarls.
What Happened: Austin, Texas-based Tesla has quietly bumped up the prices for the Model 3 Performance and Long Range variants by $1,000 and $1,500, the company’s website shows.
The Model 3 Performance and the Long Range are now priced at $55,990 and $62,990. Elon Musk-led Tesla has left the price of the entry-level Model 3 unchanged at this time.
Just last month, Tesla bumped up the prices for Model 3 variants by $2,000 to $4,000.
Why It Matters: Tesla was the first EV maker to announce price hikes last month amid skyrocketing prices of nickel and other materials used in batteries.
See Also: Tesla Hikes Prices In Both US, China For The Second Time Within A Week: All You Need To Know
Musk after the first price hike on March 10 had said Tesla and SpaceX were facing significant inflationary pressure on material costs and logistics.
Price Action: Tesla stock closed 4.2% lower at $1,045.76 a share on Wednesday.
Photo: Courtesy of Tesla
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