Tesla Model 3 prices increased again
Commodity prices and inflationary pressure may be to blame
FOX Business Flash top headlines for April 6
Here are your FOX Business Flash top headlines for April 6.
Tesla raised the price of two versions of the Model 3 sedan this week.
The all-wheel-drive Tesla Model 3 now starts at $55,990. (Tesla)
The Model 3 Dual Motor All-Wheel Drive Long Range is up $1,500 to $55,990 and the Model 3 Performance up $1,000 to $62,990.
Tesla has been adjusting the prices of all of its models over the past year due primarily to a variety of supply chain issues. The Model 3 Performance was $55,990 as recently as February 2021.
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Electrek noted that the Model 3s affected this round both use nickel-based battery packs, while the price for the entry level Model 3 that has a lead-based pack remained unchanged at $46,990.
Elon Musk has warned Tesla is facing inflationary pressures. (Patrick Pleul - Pool/Getty Images)
Nickel prices doubled in the days following Russia's invasion of Ukraine as Russia is one of the top producers of the metal, but have since fallen to a year-to-date increase of just over 60%.
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Tesla has not commented on the reasoning behind the price increases, but CEO Elon Musk tweeted in March that the company was facing "significant recent inflation pressure."