Tech

Tesla Raises Prices for Base Models After Record Revenue of $ 1.6 Billion in Q3

What happened now? Tesla recently released third-quarter results, announcing an astonishing $ 1.6 billion in profit. However, despite such huge numbers, it looks like the EV maker believes it can do more, so it discreetly raised the prices of the Tesla Model 3 and Model Y by $ 2,000 and the Model S and Model X by $ 5,000.

Tesla published A third-quarter income statement was released Wednesday, generating more than $ 13.7 billion in revenue and $ 1.6 billion in profits, despite continued chip shortages and multiple shipment delays for restyled Model S and Model X. Annual streak positive results.

In part, these results are due to Tesla’s constant price adjustments based on supply and demand. For example, the Tesla Model 3 and Model Y had their own prices. adjusted in early October, increasing the base models by $ 2,000, placing them at $ 41,990 and $ 54,990, respectively. However, it looks like this was not enough as Tesla increase prices again for an additional $ 2,000, bringing the price of the Model 3 to $ 43,990 and the Model X to $ 57,990.

In addition, the electric vehicle manufacturer also hiking the base Model S and Model X are priced at $ 5,000, meaning they will now start at $ 94,990 and $ 104,990, respectively.

The price hike appears to have only affected the base models, as prices for the Plaid, Long Range and Performance models have remained unchanged.

“Sometimes the public can feel that our price changes do not make logical sense,” said Zak Kirkhorn, Tesla’s CFO. “But, as you know, there is a strategy that we are working behind the scenes as we balance supply and demand as we also try to balance different part shortages as we try to manage latency. it goes into optimization here. “

The news comes after the Tesla Model 3 was named the best-selling car in Europe-26 in September 2021, with 24,591 units sold last month alone.


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