Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
HomeAll NewsMost read newsBusiness Leaders Biography
Birthday : 06/28/1971
Place of birth : Pretoria - South Africa
Biography : Elon Reeve Musk is an entrepreneur and businessperson who founded 7 companies, which include: Tesla,

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

05/31/2021 | 08:26pm EDT
FILE PHOTO: China-made Tesla Model 3 electric vehicle is seen ahead of the Guangzhou auto show in Guangzhou

(Reuters) - The price of Tesla 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://bit.ly/3vFEtQL.

"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://bit.ly/3c9PPVo.

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.

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://bit.ly/2R9fmqx that new Tesla Model Y owners are reporting that their electric SUVs are being delivered without lumbar support on the passenger side.

(Reporting by Nandakumar D in Bengaluru; additional reporting by Hyunjoo Jin; editing by Richard Pullin)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
TESLA, INC. -2.09% 643.105 Delayed Quote.-6.81%