Tesla Hikes U.S. Prices

(RTTNews) - Luxury electric car maker Tesla Inc. (TSLA) has sharply increased prices of all of its cars models, amid ongoing global supply-chain issues and increasing raw material prices.

According to Electrek, the Model 3 Long Range price has gone from $54,490 to $57,990, a $2,500 price increase. The electric carmaker has increased its Model Y long-range price to $65,990 from $62,990. Tesla also increased the price of Model S even after increasing its price by $5,000 price just a few months ago. The Model S Dual Motor All-Wheel Drive Long Range went from $99,990 to $104,990 with the latest price increase.

The price hike comes at a time when costs of raw materials, including aluminum and lithium used in cars and batteries, have surged, while logistic costs have also increased.