Tesla Inc’s (NASDAQ: TSLA) Model S and X vehicles are the company’s most expensive, flagship vehicles. The S and X recently underwent a refresh, with a new interior and exterior design for a more modern look along with efficiency and range improvements.
After delays, Tesla started shipping its Plaid and Long Range Model S vehicles last month, with the Model X supposedly coming by the end of the third quarter for current orders. New orders aren’t estimated to ship until January 2022.
Now Tesla has raised the price of both the Model S and X long-range versions, according to Electrek. Tesla already increased the price of the Plaid Model S by $10,000 earlier this year. The increased prices result in the following:
- Model S Long Range: from $79,990 to $84,990
- Model X Long Range: from $89,990 to $94,990
This is the first price increase for the long-range versions of the S and X after the Model 3 and Model Y have already seen multiple price increases throughout 2021. These vehicles are also being bought faster than they can be produced, with rumors saying Tesla sold out of its second-quarter inventory in the first half of the quarter.
Benzinga’s Take: Tesla’s S and X demand may be higher than anticipated, leading to price increases. Supply chain issues continue to affect many industries, especially the auto industry, and Tesla may need to increase prices to help with these constraints.
At the same time, a federal tax credit for electric vehicles may be around the corner, and Tesla could be preparing for this assistance from the government.
Photo: Model X Courtesy of Tesla
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