Tesla has increased the prices of its two best-selling cars. Its Model 3 sedan and Model Y SUV, in their least expensive Long Range trims, have each seen a price bump of $1,000 overnight.
The Model 3 Long Range now starts at $53,490, plus a $1,200 destination and documentation fee.
The Model Y Long Range now starts at $61,990, plus the same fee.
Traditional automakers improve their cars each model year and rebalance prices when they do so. Tesla changes its components and features on the fly and adjusts prices frequently. That can mean surprising changes in a relatively short period of time. Last year, the company adjusted the cost of its top-of-the-line Model S sedan at least 10 times. The car started the year with a $69,420 price tag and ended it with a sticker of $94,990.
But the price increases haven’t deterred buyers. The Model Y and Model 3 were, respectively, the best- and second-best-selling electric vehicles in America throughout 2021.
Most manufacturers are introducing new electric cars in 2022, which will give Tesla new competition it hasn’t faced before. But the company is in a strong position to compete, recently becoming America’s best-selling luxury automaker — beating not just other electric carmakers, but established luxury cars as well.
