The price of Tesla vehicles is increasing due to supply chain pressures across the auto industry, particularly for raw materials, Elon Musk said on Monday in response to a tweet.
“Prices increasing due to major supply chain price pressure industry-wide. Raw materials especially,” Musk said in the tweet.
He was responding to an unverified Twitter account called @Ryanth3nerd, which said, “I really don’t like the direction @tesla is going raising prices of vehicles but removing features like lumbar for the Model Y…”
In May, Tesla increased its Model 3 and Model Y prices, the automaker’s fifth incremental price increase for its vehicles in just a few months, the Electrek website reported.