Many cars are selling for something close to sticker price in 2021. But only a few keep seeing that sticker price rise. Tesla, coming off its most successful sales quarter, has raised prices on most of its lineup. It’s at least the sixth such increase this year.
Over the weekend, Tesla increased the prices of the Model S Long Range sedan and Model X Long Range SUV by $5,000 each. Both models also come in a high-performance Plaid edition, which did not see a similar price increase.
The less-expensive Model 3 sedan and Model Y SUV each saw a $2,000 price increase. But it is also limited to the Long Range models, leaving the price of the Performance versions unchanged.
The New Prices
- Model X Long Range: $104,990
- Model S Long Range: $94,990
- Model Y Long Range: $58,990
- Model 3 Long Range: $51,490
All Teslas also require a $1,200 destination and documentation fee.
A Tremendous Climb in a Year
The last year has seen the final sale price of the average new car spike. At the end of September, Americans paid an average of $45,031 for a new car. One year before, that same figure had been more than 12% lower, at $40,159.
But Tesla’s prices have grown at a rate much faster than average.
Last October, a Model S Long Range would have cost you $69,420. This weekend’s price increases mean that same car, today, would cost you 37% more. Also, Tesla has exhausted its federal tax credits since it has long passed the 200,000-unit sales threshold under the program. Buyers are no longer eligible for the $7,500 break that all other manufacturers except GM offer.
Demand Seems High, Anyway
Tesla doesn’t operate a traditional public relations department, making it difficult for journalists to get reliable information about the company’s performance. But demand seems to be higher than ever for Tesla cars.
There’s a significant waitlist for all of them. The fastest way to get a new Tesla today is to order the best-selling Model 3. It delivers about two months after your place your order. At the other end of the scale, the wait for a Model X has now stretched to nearly a year.
