Tesla’s small lineup is a hot commodity in the electric vehicle (EV) market. However, the Fed just raised interest rates, and with those hikes, the EV automaker is raising prices across the board. Some vehicles like the Model 3 get a minor price bump, but others aren’t as lucky. Here’s what you need to know about Tesla’s price increases. 

Will Tesla drop prices in 2022?

Tesla has increased its prices again in 2022. The EV manufacturer raised its prices throughout its lineup overnight. Tesla is likely raising prices to deal with supply chain issues and inflation. However, the price increases aren’t uniform. 

Are Tesla Model 3 prices high? 

Tesla increased the price of a 2022 Model 3 from $54,490 to $57,990. That means Model 3 consumers will have to foot the bill for the extra $3,500. Still, that is one of the smallest increases across the automaker’s lineup. However, things get worse with more premium models from the Tesla lineup. 

Did Tesla increase the price of a Model Y? 

The Tesla Model Y Long Range sees a price increase of $3,000. As a result, the new price of a Model Y Long Range is $65,990. The coveted Performance variant sees a more minor price increase of $2,000 from $67,990 to $69,990. It still qualifies as a performance bargain, but it’s right on top of that scary $70,000 price point. 

How much is the Tesla Model S now? 

The 2022 Tesla Model S Dual Motor Long Range now costs around $104,990. According to Electrek.com, that marks a $5,000 price increase over the previous price. That is a substantial increase for consumers who want the least pricey Model S and its long-range aptitude. 

Did Tesla increase the price of a Model X?  

Tesla increased the price of the Model X by $6,000, marking the highest increase across the lineup. The Model X is already the automaker’s most expensive model, and the price hike makes it that much more inaccessible. Specifically, Tesla increased the price for a 2022 Model X from $114,990 to $120,990.

Did any models avoid the Tesla price increase?

Performance enthusiasts can rejoice because the Plaid editions’ prices remain unchanged for now. The Tesla Model S Plaid and Model X Plaid represent the highest performance of each vehicle, with the Model S Plaid rocketing to 60 mph in less than 2 seconds. That kind of speed already comes at a price, with the Model S Plaid and the Model X Plaid costing $135,990 and $138,990, respectively. 

Is it a good time to buy a Tesla? 

Given the market volatility, now is not a good time to buy any significant commodity. The Fed raised interest rates again, and both used and new car values are stratospherically high. However, Reuters says that Tesla also increased prices last March, so the automaker will likely raise prices again in the future. 

Still, if you insist on shopping for a new Tesla, the Plaid versions did not increase in price. According to Electrek.com, the Model Y Performance’s price increased by $2,000, making it the smallest price increase in the lineup. 

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Updated on 7/12/2022