Tesla has increased the price of the Tesla Model Y Long Range AWD for the second time this month.
The latest increase of $500 brings the price of the base model to $52,990. The same vehicle was priced at $50,000 a few months ago.
While the price of the base Model Y has continued to increase, the base Model 3 price did not increase. Chief Executive Elon Musk has explained that major supply chain issues are causing price increases.
Certain variants of the Model 3 and Model Y received price reductions in February and early March, then the price of the Model 3 increased in late March. Another three increases for Model 3 and Model Y have occurred since.
While it’s understandable that the Covid-19 pandemic has impacted many industry’s, a part of Tesla’s mission has been to make electric vehicles affordable enough to appeal to the masses. Hopefully, the company can correct the issue to help bring those base model prices to a range that can appeal to a broader set of consumers.