Tesla Raises Car Prices in US
2022-06-17
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1American electric carmaker Tesla has again raised the price of all its vehicle models in the United States.
2The increase comes as worldwide supply-chain problems and higher costs for materials have led to inflation in the U.S. for many goods.
3Tesla published the price increases on its website on Thursday.
4The price of the company's Model Y high performance vehicle rose from $62,990 to $65,990.
5Tesla's Model 3 vehicle went from $54,490 to $57,990, auto industry website Electrek reported.
6The company's high performance Model S went from $99,990 to $104,990.
7The price of Tesla's Model X rose by $6,000, Electrek said.
8The increases come as costs for materials used to produce the cars continue to increase.
9These include everything from aluminum to lithium, which is used to make electric vehicle (EV) batteries.
10Tesla Chief Executive Elon Musk has said in the past that lithium was responsible for cost increases and had been "a limiting factor" to EV growth.
11Automakers have also struggled to get computer chips and other supplies as the industry experiences shortages of parts.
12Electrek reported Tesla has faced delivery delays for several of its models lasting from 6 to 12 months.
13It notes that Tesla may be trying to predict its costs for models set to be completed in the coming months.
14Swiss-based investment bank Credit Suisse said Tesla's price increase represents, in some cases, the fourth rise in the U.S. in 2022.
15A Tesla competitor, American-based Rivian Automotive, has also raised vehicle prices by more than $10,000 for new orders of its basic model.
16Several other automakers are expected to deliver EVs for the first time to compete with Tesla as demand grows.
17Musk recently warned about the risk of a possible economic recession.
18Earlier this month he said he had a "super bad feeling" about the economy.
19Musk also ordered a 10 percent job cut at Tesla.
20Musk is currently the world's richest person.
21In addition to Tesla, he leads the space company SpaceX.
22Musk is currently in the process of buying social media company Twitter for about $44 billion.
23I'm Bryan Lynn.
1American electric carmaker Tesla has again raised the price of all its vehicle models in the United States. 2The increase comes as worldwide supply-chain problems and higher costs for materials have led to inflation in the U.S. for many goods. 3Tesla published the price increases on its website on Thursday. 4The price of the company's Model Y high performance vehicle rose from $62,990 to $65,990. 5Tesla's Model 3 vehicle went from $54,490 to $57,990, auto industry website Electrek reported. The company's high performance Model S went from $99,990 to $104,990. The price of Tesla's Model X rose by $6,000, Electrek said. 6The increases come as costs for materials used to produce the cars continue to increase. These include everything from aluminum to lithium, which is used to make electric vehicle (EV) batteries. 7Tesla Chief Executive Elon Musk has said in the past that lithium was responsible for cost increases and had been "a limiting factor" to EV growth. 8Automakers have also struggled to get computer chips and other supplies as the industry experiences shortages of parts. 9Electrek reported Tesla has faced delivery delays for several of its models lasting from 6 to 12 months. It notes that Tesla may be trying to predict its costs for models set to be completed in the coming months. 10Swiss-based investment bank Credit Suisse said Tesla's price increase represents, in some cases, the fourth rise in the U.S. in 2022. 11A Tesla competitor, American-based Rivian Automotive, has also raised vehicle prices by more than $10,000 for new orders of its basic model. Several other automakers are expected to deliver EVs for the first time to compete with Tesla as demand grows. 12Musk recently warned about 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 percent job cut at Tesla. 13Musk is currently the world's richest person. In addition to Tesla, he leads the space company SpaceX. 14Musk is currently in the process of buying social media company Twitter for about $44 billion. 15I'm Bryan Lynn. 16Reuters and Electrek reported on this story. Bryan Lynn adapted the reports for VOA Learning English. 17We want to hear from you. Write to us in the Comments section, and visit our Facebook page. 18_________________________________________________ 19Words in This Story 20supply chain - n. the system of people and things that gets a product from its place of manufacture to the person who buys it 21battery - n. a device that provides and stores electricity for certain electronic devices 22factor - n. one of the things that has an effect on a particular situation, decision, event, etc. 23chip - n. a small piece of semiconducting material used to make parts that help power computer processors 24deliver - v. to transport things from one place to another