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Tesla Hikes Vehicle Prices in US, China

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The interior of a Tesla vehicle with a driver using its screen.

March 17, 2022—Tesla earlier this week raised prices for some of its vehicles by $1,000.

A CNBC report says the company did not give a reason for the price increase, though Musk earlier in the week tweeted that the EV automaker has faced "significant recent inflation pressure." Prices for EV battery materials such as nickel are steadily increasing, and the report also cites the ongoing semiconductor shortage as another factor.

A report from Reuters says the EV manufacturer has raised its prices substantially over the last 14 months, with the Model Y Long Range seeing a 20-percent jump since 2021 and a more than 10-percent jump for the Model 3 Long range in that same time. 

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