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Tesla Raises Model 3 and Model Y Prices

The hike comes ahead of a shareholder meeting slated for Thursday night. 

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Tesla has raised the prices of its Model 3 and Model Y electric vehicles again, which makes the Cybertruck its least expensive offering. The hike comes ahead of a shareholder meeting slated for Thursday night. 

Xinhua News Agency | Getty Images

The Model 3 Standard Range Plus saw a $2,000 increase. The starting price is now $41,990 but gets higher as destination fees are applied. 

The Model Y Long Range Dual Motor also saw a $2,000 increase, bumping it to $54,990.

Top-of-the-line performance versions of both models also went up $1,000, though the mid-level Model 3 Long Range stayed the same at $49,990.

By comparison, the Cybertruck costs $39,900. It, however, is not due for production until late next year.

These increases were not the first to hit Tesla’s vehicles. The Model 3 now costs $5,000 more than it did earlier this year. CEO Elon Musk blamed the earlier adjustments on supply chain issues.