United States based electric vehicle manufacturer Tesla Inc. (TLSA) has increased its vehicle prices for all its models in the U.S this comes at a time when the price of raw materials has been on a constant increase which has created supply chain challenges.
According to the company’s website update on June 16 Tesla has hiked its Model Y long-range price to $65,990 from $62,990. This development comes after the company has been delaying deliveries of some long-range models across the United States by up to a month.
The company says this price hike was influenced by the surging costs of raw materials including aluminum which is used in cars.
At the beginning of the month, the company’s founder and chief executive officer, Elon Musk had warned about the risk of a recession further saying he feels super bad the tough times have pushed Tesla to trim 10% of its labor force.