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Tesla's Model 3, Model Y prices rise again

Now, the cheapest Model 3 costs $43,490. That's up $2,000 from the last time the company increased its prices.

2021 Tesla Model Y
Prepare to pay more -- again.
Tim Stevens/Roadshow

Prepare to pay more for a new Tesla Model 3 or Model Y. This week, the automaker quietly updated its online configurator and increased the prices of both its EVs. Now, the least expensive Model 3 will run $43,490 after a $1,200 destination charge (a $2,000 increase). The Model Y climbed to $54,990 after the same $1,200 destination fee, meaning a $2,000 overall increase for the Model Y Long Range.

As for the rest of Tesla's cars, the Model 3 Long Range hangs on to its previous price tag of $49,990, while the Model 3 Performance rose by $1,000 to $57,990. The Model Y Performance, the only other Y variant on sale, is now $61,990 -- anotehr $1,000 increase.

Tesla's been on a tear this year: It's increased prices numerous times, sometimes as often as every couple weeks. Although Tesla does not operate a public relations department to field requests for comment, CEO Elon Musk addressed the price jumps earlier this year. According to Musk, the supply chain issues plaguing so many industries is the culprit. However, it may be much-needed cover to increase margins on the brand's EVs. Musk has also warned employees in the past tat the company needs to focus on real profits after keeping in the black largely due to the sale of regulatory credits.