Musk says Tesla prices increasing due to supply chain pressure


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.

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