Since early 2021, the Tesla Model 3 Standard Range has increased by $5,000.
Tesla's prices seem to change like the wind. In the first half of 2021, the price of Tesla's most popular models, the Model 3 and Model Y, constantly changed. Most automakers introduce price increases with model year updates, but there was a period where Tesla changed the price of the Model 3 and Model Y every few weeks.
Now, Tesla has quietly increased the price of the Model 3 and Model Y yet again across all trim levels. In the US, the Tesla Model 3 Standard Range Plus has increased by $2,000, increasing from $39,990 to $41,990.
Earlier this year, the Model 3 Standard Range Plus had an MSRP of $36,990, so the price has increased by a whopping $5,000 in just seven months. This also means the Model 3 Standard Range Plus is no longer Tesla's cheapest model – that title now belongs to the Cybertruck, with a price tag of $39,900. Yes, that means the Cybertruck is the only Tesla model that starts at less than $40,000 – at least for now. Now would be a great time for Tesla to introduce its long-promised entry-level $25,000 EV.
Moving up the range, the Model 3 Long Range AWD still retails for $49,990 but the Model 3 Performance's price has increased from $56,990 to $57,990.
As for the Model Y, the Long Range Dual Motor now starts at $54,990, an increase of $2,000. The Model Y Performance, on the other hand, now retails for $60,990, up from $61,990. Since April, the Model Y base price has increased by $4,000.
Previously, CEO Elon Musk attributed the frequent price increases to supply chain issues, but we suspect Tesla is also taking advantage of the insanely high demand for the Model 3 and Model Y, which helped Tesla achieve a new Q3 delivery record with 241,300 cars sold. Alas, this isn't the first time prices for the Model 3 and Model Y have increased, and it certainly won't be the last.