Leading electric vehicle maker Tesla Inc. (TSLA) is on the spot once again for increasing its car prices two times in a period of less than a week. This second increase comes just a day after the company’s founder and chief executive officer, Elon musk, said as a company they are facing a significant inflation pressure.
The increase is being attributed to the Russia-Ukraine conflict which has led to an increase in the prices of raw materials especially metals. This second price hike is however targeted on China made cars only.
On March 10, Tesla announced an increase on its vehicle prices made in the U.S and China. This price raise was immediately reflected on the company’s official website, the price of China made Model 3 and Model Y was up by about 5%.
The prices of both models were increased by 10,000 yuan ($1,582.40) each during the price increase of last week.
Well, on March 15, the company once again increased the price of Model 3 Performance unit was by 18,000 yuan which means the car is now going for 367,900 yuan.