Another Tesla Model Y Price Increase is Here, Jumping Up $500

Following price hikes for both Tesla’s new Model S Plaid and the Model Y, the company has again increased one model’s price just a few weeks later.

Tesla has raised the price of the Model Y Long Range All-Wheel-Drive variant, by another $500, according to the company’s online order configurator (via @Tesla_Adri).

The move comes again comes about two weeks after a previous $500 USD increase for the model, making the Long Range base price come to a total of $52,990 (USD). The Performance Model Y remains unchanged at $60,990 USD.

  • Long Range: $52,990 USD (+$500; was $52,490)
  • Performance: $60,990 USD – no change

The news comes amidst an ongoing supply chain semiconductor shortage that affected most automakers and electronics manufacturers around the world in recent months.

Tesla is currently constructing new Gigafactories in Grünheide, Germany and Austin, Texas, both set for completion this year. These will come in addition to the company’s production facility completed last year in Shanghai, China, along with its current operational factories in Fremont, California and Sparks, Nevada.

Demand for Tesla’s vehicles is also high amidst a burgeoning EV market with increasing competition, and one in which Tesla’s deliveries are estimated to be at least a few months out.

Earlier this month, Tesla CEO Elon Musk announced that an AI Day event will happen in July or August, at which the company plans to break down AI software and hardware progress updates.