There once was a time when Elon Musk unveiled a plan to change the automotive landscape and offer his Tesla performance electric car for about $35,000.
Musk has changed the car industry but his marketing promise never materialized. The original Tesla Model S debuted in March 2009 with a base price of $57,400 ($49,900 after federal tax credits).
With the company founder’s pricing increase announcement March 15, the entry level price for Tesla is now about 40 percent more than originally promoted nearly 15 years ago.
The latest price hike is far from the first price increase for the performance car. But it’s the second time in a week and the latest increase affects the brand’s entire line-up of electric vehicles.
Prices have increased by between 5 to 10 percent, with the cheapest car the company sells — the Model 3 Rear-Wheel Drive — now starting at $46,990, while its top-end Model X Tri motor saw a price increase of $12,500, from $126,490 to $138,990.
The first price increase in a week involved certain long-range models. The most recent increases the vehicle’s range from $44,990 to $138,990.
Here’s the full list of current models and the current and just-announced increase of prices:
Model 3 Rear-Wheel Drive: $44,990 to $46,990
Model 3 Long Range: $51,990 to $54,490
Model 3 Performance: $58,990 to $61,990
Model Y Long Range: $59,990 to $62,990
Model Y Performance: $64,990 to $67,990
Model S Dual Motor: $94,990 to $99,990
Model S Tri Motor: $129,990 to $135,990
Model X Dual Motor: $104,990 to $114,990
Model X Tri Motor: $126,490 to $138,990
Article Last Updated: March 15, 2022.
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A sports, travel and business journalist for more than 45 years, James has written the new car review column The Weekly Driver since 2004.
In addition to this site, James writes a Sunday automotive column for The San Jose Mercury and East Bay Times in Walnut Creek, Calif., and a monthly auto review column for Gulfshore Business, a magazine in Southwest Florida.
An author and contributor to many newspapers, magazines and online publications, James has co-hosted The Weekly Driver Podcast since 2017.