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Tesla's vehicle price increases due to supply chain pressure, Musk says

Published 05/31/2021, 08:24 PM
Updated 06/01/2021, 08:38 AM
© Reuters. FILE PHOTO: A China-made Tesla Model 3 electric vehicle is seen ahead of the Guangzhou auto show in Guangzhou, Guangdong province, China November 21, 2019. REUTERS/Yilei Sun/File Photo

(Reuters) - The price of Tesla (NASDAQ:TSLA) vehicles is increasing due to supply chain pressures across the auto industry, particularly for raw materials, Elon Musk said on Monday in response to a tweet https://

"Prices increasing due to major supply chain price pressure industry-wide. Raw materials especially," Musk said in a tweet.

He was responding to an unverified Twitter account called @Ryanth3nerd, which said, "I really don't like the direction @tesla is going raising prices of vehicles but removing features like lumbar for the Model Y..."

In May, Tesla increased its Model 3 and Model Y prices, the automaker's fifth incremental price increase for its vehicles in just a few months, the Electrek website reported https://

During an an earnings conference call in April, Musk said Tesla had experienced "some of the most difficult supply chain challenges," citing a chip shortage. "We're mostly out of that particular problem," he added at the time.

© Reuters. FILE PHOTO: A China-made Tesla Model 3 electric vehicle is seen ahead of the Guangzhou auto show in Guangzhou, Guangdong province, China November 21, 2019. REUTERS/Yilei Sun/File Photo

In response to the removal of lumbar support on the passenger side in Tesla's Model Y, Musk said, "Moving lumbar was removed only in front passenger seat of 3/Y (obv not there in rear seats). Logs showed almost no usage. Not worth cost/mass for everyone when almost never used."

Earlier on Monday, the Electrek reported https:// that new Tesla Model Y owners are reporting that their electric SUVs are being delivered without lumbar support on the passenger side.

Latest comments

Tesla is playing customers
During an an earnings conference call in April ????? Why you publish today? Lol
FUDsters and T R O L L S lies and hate spewing isn't going to change anything. Tesla is the greatest company in the world.
Tesla gonna sink! Short sellers getting rich!
Company is trash
How so, please elaborate. I would like to hear your expert analysis on the matter
Don't hate the player, hate the game! T E S L A
Trash company. And who cares that twitter account is unverified? terrible article. so on par with Reuters I guess
slowly turning in to hard plastic r/c cars
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