Tesla increases Model 3 and Model Y prices... again

Tesla, the company with car models that intentionally collectively spell out “S3XY,” increased the prices of its Model 3 and Model Y options overnight. Again. Multiple versions of both vehicles are now between roughly $1,000 and $2,000 more expensive than yesterday, with the cheapest possible EV now setting drivers back around $42,000.

As noted by Electrek, this is far from the first time Tesla’s car prices have suddenly jumped up another few thousand dollars. This past year alone, the company was averaging a cost hike every other week during the first six months, with the last occurrence happening back in July. The Technoking himself, Elon Musk, attributed this largely to supply chain issues involving microprocessors, which... okay, fair. But it’s clear the realization of Musk’s promise of affordable, widely accessible Tesla EVs continues to be pushed farther and farther down the road.

It’s not just a supply chain issue — Of course, Musk’s justification for the price increases is really only one part of the larger, greedier picture. Despite scarcity issues, Tesla’s gross profit margins have increased from 19 percent at the end of 2020 to 24 percent this past June. Tesla’s Model 3 Standard Range hopped $5,000 this year alone — a 13 percent leap from its price last year.

Cybertruck? Haven’t heard that name in a long time — As Seth Weintraub also points out, the price increases extend far beyond the models in question. For example, Tesla’s Cybertruck (remember that thing?) is still supposedly set to release next year — a full-sized, stainless steel monstrosity promising a 250-mile range while somehow still coming it at under $40,000. Meanwhile, Tesla can’t even deliver its existing “cheap” model at that same price point.

And so continues the Tesla grift. We’re taking bets now on when we get the inevitable Cybertruck delay announcement.