Tesla Raises Prices
Tesla has raised the price of the Model S and Model X vehicles by $2,500 in the U.S. In addition to this price increase, Tesla is offering 3 years of unlimited free Supercharging with any new Model S or Model X purchase before June 30th, 2023.
There are some vehicles that don't qualify this and those are used vehicles, business orders, and vehicles used for commercial purposes. My guess is that this would be something like a fleet operator buying these vehicles or some kind of taxi service like Hertz or Uber.
Some may wonder if the free Supercharging miles are worth it. They are if you take a lot of long drives or road trips. If you are charging from the convenience of your own home most of the time, then it most likely won't be worth much.
In addition to this, Tesla is also making the default steering wheel option for the Model S and Model X a round steering wheel with an upgrade of $250 for a yoke. Tesla listened to feedback about the steering wheel and stopped making the yoke a standard steering wheel option.
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Was This a One Time Occurrence?
Some are very happy that Tesla is using the free Supercharging as a way to generate demand. I think Tesla most likely won't increase prices much on these vehicles from here, and it was a surprise to me that they raised the price.
Tesla has not done any paid advertising yet and if Tesla continues to raise prices, it might be a sign that they are getting ready to do paid advertising.
If I had to make a bet on this, though, I would say that Tesla isn't going to raise the prices much on the Model S and Model X unless there is some kind of event that forces them to do so - like interest rates dropping to near 0%.
Some wonder if there is a demand problem for the Model S and Model X - with production of 20,000 units, but only delivery of 10,000 units last quarter. Tesla has said that this is due to vehicles in transit, but that is 50% of these vehicles being in transit. Not everyone believes what Tesla is saying.
What do you think about the Model S and Model X going up in price - was this a good move by Tesla?
BREAKING: @Tesla has increased Model S and Model X prices in the US by $2,500. Tesla is also now offering 3 years of unlimited free Supercharging with any new Model S or X purchase by June 30th. pic.twitter.com/Nol4wl1XRi— Sawyer Merritt (@SawyerMerritt) April 21, 2023
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.