Tesla Raises Prices After Elon Musk Tweets About Inflation

Tuesday, March 15, 2022
author picture Daniel Marino
trends
Video/image source : youtube, iinsider
Original content created by news.limited staff

Luxury electric carmaker Tesla is raising its prices‚ the second time this year. The company said that the cost of the Model 3 in the United States now stands at $46‚990‚ an increase of nearly $1‚000. The price increase comes on the heels of Musk's earlier tweet about the effects of inflation on the company's supply chain. The CEO of SpaceX‚ which is involved in space exploration‚ said that while companies are not alone in facing the high cost of raw materials and logistics‚ he has concerns about the rising price of aluminum. While Tesla is not commenting on the price increase‚ it has raised its prices in the US and China on Tuesday. The increase in prices is a reaction to the recent tweet from Elon Musk about the impact of inflation on his company. On Monday‚ the Tesla chief executive tweeted about recent inflationary pressures on raw materials and logistics. While he didn't elaborate‚ he linked to an article on the rise in commodity prices following the Russian invasion of Ukraine. While the company has not commented on the new price hikes‚ the company has previously hinted that higher prices are likely to lead to lower sales.

tesla raises prices after elon musk tweets about inflation
Image source : iinsider

On Monday‚ Musk tweeted about rising costs in the US and China. The prices of nickel have skyrocketed this year due to fears of a Russian influx of uranium‚ a key component in electric vehicle manufacturing. As a result‚ he has raised the prices of all his models‚ resulting in an overall rise of about $575.