Tesla raises prices for all its models in China and the US

(Bloomberg) — Tesla Inc. raised the prices of all its vehicles after its CEO, Elon Musk, said that costs were increasing in the companies it runs.

The cheapest Model 3 in the United States now costs US$46,990, according to Tesla's website. The company raised prices by between 3% and 5% in both the US and China, Credit Suisse analyst Dan Levy said in a note addressed to customers.

Musk noted earlier this week on Twitter that both Tesla and Space Exploration Technologies Corp. were experiencing “significant” inflation in commodities and logistics. Manufacturers of electric vehicles and rocket vehicles are not alone. The S&P GSCI index, a benchmark in the commodity market, rose by 20% in the first five days of the month, the largest weekly gain since 1970.

This is Tesla's second round of price increases in the last week. The company raised the price of some versions of Model 3 and Y on March 9 in the US, which was followed by an increase in Chinese-made vehicles in that market on March 10.

Original Note:

Tesla Raises Prices Across Lineup; Cheapest Model Is Now $46,990

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