Musk: "Raw Material Supply Shortage Causes Tesla Car Price Increase"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Suhwan] Elon Musk, CEO of Tesla, said that Tesla vehicle prices are rising due to raw material supply shortages.

On the 31st (local time), Musk tweeted, "There is an ongoing supply shortage caused by raw material shortages across the automotive industry," adding that vehicle prices are under upward pressure.

This was in response to a tweet from a netizen who said, "Tesla car prices have been continuously rising recently," and "I do not view these price increases favorably."

Elon Musk, CEO of Tesla's tweet [Image source=Twitter capture]

The same netizen also expressed dissatisfaction that some features, such as the lumbar support installed in the seats, were removed despite the continuous price increases of Tesla cars. In response, Musk argued, "Very few people used this lumbar support," and said removing this feature would not be a problem.

Earlier, Tesla had raised prices several times since February for the sedan model Model 3 and the SUV Model Y, with Model 3 prices having been increased six times by $500 each since February.

Currently, in the United States, the Model 3 Standard is sold at $39,990 (approximately 44 million KRW), and the Model Y Long Range is sold at $51,990 (approximately 57 million KRW).

Previously, Musk mentioned at Tesla's earnings call in April that "we are experiencing supply chain issues due to a shortage of automotive semiconductors."

[Image source=Reuters Yonhap News]

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