Tesla hikes car prices in the U.S., China after CEO Elon Musk warns of inflation pressure

Tesla hikes car prices in the U.S., China after CEO Elon Musk warns of inflation pressure


Tesla CEO Elon Musk speaks at a delivery ceremony for Tesla China-made Model 3 in Shanghai, east China, Jan. 7, 2020.

Ding Ting | Xinhua News Agency | Getty Images

Tesla has hiked the prices of its electric vehicles in the U.S. and China after CEO Elon Musk warned of inflation pressure on the business.

The company raised the prices of all its models in the U.S. In China, a version of the Model 3 and the Model Y saw price hikes. It is the second increase within the last week.

Tesla did not give a reason for the increases. The company was not immediately available for comment when contacted by CNBC.

But Musk said in a tweet earlier this week that Tesla and his space exploration company SpaceX have seen “significant recent inflation pressure in raw materials & logistics.”

Materials such as nickel, a key component of electric vehicle batteries, are on the rise.

Meanwhile, a flare-up of Covid cases in China and lockdowns in some cities have added a further challenge to already-stretched supply chains. Critical components like semiconductors also remain in short supply.

On Tuesday, Tesla’s China website listed the starting price of the Model 3 Performance at 367,900 yuan ($57,648). The South China Morning Post reported on Mar. 10 the price was 349,900 yuan after a previous increase that day.

The Model Y Long Range in China now costs 375,900 yuan — up from the previous price of 357,900 yuan. The Model Y Performance is currently priced at 417,900 yuan, up from 397,900 yuan previously.



Source

Nvidia’s Jensen Huang sells more than  million in stock, catches Warren Buffett in net worth
Technology

Nvidia’s Jensen Huang sells more than $36 million in stock, catches Warren Buffett in net worth

Jensen Huang, CEO of Nvidia, holds a motherboard as he speaks during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, on June 11, 2025. Gonzalo Fuentes | Reuters Nvidia CEO Jensen Huang unloaded roughly $36.4 million worth of stock in the leading artificial intelligence chipmaker, […]

Read More
Tesla to officially launch in India with planned showroom opening
Technology

Tesla to officially launch in India with planned showroom opening

Elon Musk meets with Indian Prime Minister Narendra Modi at Blair House in Washington DC, USA on February 13, 2025. Anadolu | Anadolu | Getty Images Tesla will open a showroom in Mumbai, India next week, marking the U.S. electric carmakers first official foray into the country. The one and a half hour launch event […]

Read More
Bitcoin flies to new all-time highs, topping 8,000 as institutions pile into ETFs
Technology

Bitcoin flies to new all-time highs, topping $118,000 as institutions pile into ETFs

In this photo illustration a Bitcoin logo seen displayed on a smartphone with stock market percentages in the background. Omar Marques | SOPA Images | LightRocket | Getty Images Bitcoin extended its rally on Friday, rising to new records overnight after bitcoin ETFs saw their biggest day of inflows of the year. The price of […]

Read More