• Tesla with numerous price increases in recent months
• Musk wants to lower prices again once inflation calms down
• Tesla benefits from higher prices for Model 3, Model Y and Co.
After German Tesla customers could still look forward to falling prices at the beginning of 2021, there was only one direction for car prices at the US manufacturer: upwards. Due to higher raw material costs, the shortage of chips and disrupted supply chains, Tesla raised the prices for all models several times.
According to “electrek” in the USA all the group’s cars were around Elon Musk 20 to 30 percent more expensive in the past two years. The cheapest version of the Model Y at the beginning of 2020 cost 53,000 US dollars, it is now at least 66,000 US dollars. Most recently, in June, the prices of all Teslas in the USA were raised by up to 6,000 US dollars.
In Germany, too, Tesla buyers have to dig deeper into their pockets: According to “Teslamag”, the price of the basic version of the Model 3 rose in one step at the beginning of April by 7,000 euros to 49,990 euros. Since March, the Model 3 Long Range has increased in price by a total of 7,500 euros in three steps, and German customers now also have to pay 7,500 euros more for the Model 3 Performance than at the end of February. With Tesla also shelving development of a $25,000 car, the EV pioneer’s vehicles are becoming increasingly unaffordable. CEO Elon Musk has now announced on Twitter when prices will fall again.
Musk promises lower prices at Tesla
On Twitter, a user asked the ambitious CEO whether there were plans to lower Tesla prices again after the end of the pandemic or the supply chain crisis. Musk confirmed in a tweet that there are plans for price cuts, but cited another factor as crucial. “If inflation calms down, we can lower the price of cars,” said the Tesla boss.
If inflation calms down, we can lower prices for cars
– Elon Musk (@elonmusk) July 15, 2022
However, it will probably take some time until that is the case. In June, inflation in the United States was 9.1 percent for the year, the highest level in more than 40 years – and according to the dpa-AFX news agency, experts believe the peak has not even been reached. Price reductions at Tesla should therefore be a long way off for the time being. If inflation continues to rise, the group’s e-cars are more likely to become more expensive.
Price hikes don’t hurt Tesla
So far, however, the higher prices have not had a negative impact on Tesla – quite the contrary. The group’s e-cars are still in high demand. If you are currently ordering a car, you have to expect waiting times of several months. Meanwhile, even Tesla’s profit margin has improved as costs haven’t risen as much as selling prices, according to electrek. According to the online magazine, the company explained why the prices are still being raised by saying that the current prices have to be calculated based on the expected future costs. Because of the high order backlog, the vehicles ordered now at a certain price would only be produced in six to ten months – and by then a further increase in production costs is apparently expected.
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