How Do Tesla Prices Impact The Automotive Industry?

Due to a combination of supply chain issues and inflation, Tesla, Inc. (TSLA) has once again increased pricing on some of its electric vehicles (EVs) sold in the United States.

Tesla Inc.'s (TSLA.O) long-range Model Y now costs $65,990 instead of $62,990.

Following delays in US deliveries for some longer-range models that lasted as much as a month, it was revealed on Thursday via its website.

Last year, Tesla reduced pricing in China in an effort to increase competition there,

While Tesla has increased pricing during the past year in the United States, its largest market, as a result of the rising cost of raw materials.

According to CBS News Elon Musk, the CEO of Tesla, recently stated that the company is under significant inflationary pressures.

Providing a clue as to what is behind such price hikes on the raw materials and logistical fronts.

Tesla's electric vehicle prices have climbed by 20% to 30% over the last two years, according to Elon Musk, who said that the company is waiting for inflation to "level off" before starting to cut them.

While some investors are worried that the market for new cars may be dying due to rising auto prices,

The online ordering configurator for the automakers is currently showing a few months' worth of backlog for Tesla, a manufacturer of electric vehicles.

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