Tesla Raises Car Prices in US

The American electric car manufacturer Tesla has again raised the price of all its vehicle models in the United States.

The increase comes as worldwide Supply Chain problems and higher costs for materials led to inflation in the United States for many goods.

Tesla posted the price increases on its website on Thursday.

The price of the company’s high-performance Model Y vehicle has dropped from $62,990 to $65,990.

Tesla’s Model 3 vehicle has gone from $54,490 to $57,990, auto industry website Electrek reported. The company’s high-performance Model S is down from $99,990 to $104,990. The price of Tesla’s Model X has increased by $6,000, Electrek said.

The increases come as the costs of the materials used to produce the cars continue to rise. These include everything from aluminum to lithium, which is used to make electric vehicles (EVs) Battery.

Tesla CEO Elon Musk has said in the past that lithium was responsible for rising costs and had been “a limiting factor. factorto the growth of electric vehicles.

Automakers also struggled to get a computer fries and other supplies as the industry experiences parts shortages.

Electrek reported that Tesla had to face delivery delays for several of its models ranging from 6 to 12 months. He notes that Tesla may be trying to predict its costs for models that are expected to be completed in the coming months.

Swiss investment bank Credit Suisse said Tesla’s price increase represents, in some cases, the fourth hike in the United States in 2022.

Tesla competitor, US-based Rivian Automotive, has also hiked vehicle prices by more than $10,000 for new orders of its base model. Several other automakers are expected to deliver electric vehicles for the first time to compete with Tesla as demand grows.

Musk recently warned of the risk of a possible economic recession. Earlier this month he said he had a “super bad feeling” about the economy. Musk also ordered a 10% job cut at Tesla.

Musk is currently the richest person in the world. In addition to Tesla, he runs the space company SpaceX.

Musk is currently in the process of buying social media company Twitter for around $44 billion.

I am Brian Lynn.

Reuters and Electrek reported this story. Bryan Lynn adapted the reports for VOA Learning English.

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words in this story

Supply Chain – nm the system of people and things that brings a product from its place of manufacture to the person who buys it

battery – nm a device that supplies and stores electricity for certain electronic devices

factor – nm one of the things that has an effect on a particular situation, decision, event, etc.

chip – nm a small piece of semiconductor material used to make parts that help power computer processors

deliver – v. transport things from one place to another

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