prices are rising in all markets due to shortages

Tesla has just made significant price increases in markets hitherto spared by these increases, such as China or Canada. Unsurprisingly, the global shortage of components is the main cause.

tesla price increase
Credits: Tesla

As you know, many car manufacturers have to deal with the difficulties caused by the global shortage of components. Some have also had to take drastic decisions, like Volkswagen, which suspended production of the ID.3 and ID.4 because of the lack of electronic chips. Or Toyota, which has chosen to reduce its global car production by 40% for the duration of the crisis.

Relatively spared until then, Tesla is beginning to feel the effects of this shortage. The American manufacturer has postponed the production of the new Model S and Model X to 2023, while the company has started to deliver Tesla Model 3 without USB port, for lack of the necessary components.

However, as we learn from our colleagues from the specialized site Electrek, Tesla has started to increase the prices of the Model 3 and Model Y in many crucial international markets, such as China and Canada. Until then, the company had mainly focused on sharply increasing its prices in the US market.

Tesla raises prices in all markets due to shortage

Thereby, Tesla has revised its prices in China twicejust this week: “The selling price of the rear-wheel-drive Model 3, with a range of 556 kilometers, increased by 1.9%, or 4,572 yuan (638 €), to reach 255,652 yuan or 39,992 dollars (35,716 €) after deduction of discounts”, announced Tesla in a press release this Wednesday, November 24, 2021. Five days earlier, the price of this model had already increased by 6.4%.

As for the price of the Model Y, it was also increased by 1.9%, or 4,572 yuan (638 €) to reach 280,752 yuan, or €39,223 after conversion. On the other hand, it should be noted that the prices of Teslas made in Shanghai with higher specifications and range remain unchanged.

In Canada, the price changes made by Tesla have serious consequences. Until then, the Model 3 RWD Standard Range was trading at $54,490. In fact, customers could claim to obtain a 5000 dollar shopping assistance, with the price of the electric vehicle being between $45,000 and $55,000. However, the new price list has increased the price of this version to $59,990, making it ineligible for state subsidies.

Source: Electrek

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