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    Tesla Increases The Price Of Its Cars Due To Inflation

    Jun 17,2022 | Chloe Lacour

    Tesla Inc again raised prices for its U.S. models amid ongoing global supply chain issues and soaring raw material costs.

    The electric carmaker raised the price of its long-range Model Y by $3,000 (2,869.17 euros) to $65,990 on Thursday after delaying deliveries of some long-range models to the United States by a month. United.

    The 5% price hike comes as raw material costs soar and automakers struggle to source chips and other supplies due to an industry-wide shortage.

    "While some fear that price increases will destroy demand, for now, Tesla remains under a supply constraint," notes Credit Suisse.

    Rival Rivian Automotive Inc has also raised prices by more than $10,000 for new orders of its base model.

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