How Do Tesla Prices Impact The Automotive Industry?

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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.

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

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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.

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

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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.

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

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

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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.

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

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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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