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Tesla Model S, Model 3 and Model Y Receive Price Hike As Demand For Tesla Cars Increases

Three of Tesla’s four vehicles on the market currently have received price hikes effective today. Model 3 and Model Y, which belong to Tesla’s ‘affordable car’ category, have received slight price increases. The flagship sedan, Model S, however, saw a huge rise in the price of its premium variant, Plaid+.

Tesla Model S, Model 3 and Model Y

Tesla Model S, Model 3, and Model Y Receive Price

Price Updates

Model 3 currently has three variants on the market right now. Of those, the Standard Range Plus now starts at $37,490, which is $500 more than before. The Long Range Dual Motor AWD variant also sees a $500 increase, going from $45,990 to $46,490 before options. The Performance model, though, retains its $55,990-price tag.

Tesla Model 3 Prices
Tesla Model 3 Prices as of 11th March

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Model Y recently saw a lot of changes to its configurator. Tesla first dropped the prices on the Standard Range Plus by $1,000, before taking it off the configurator completely just a few days later. The remaining two variants had also received $1,000 hikes at the time. Now, the Long Range Dual Motor AWD has received another $1,000 price increase, and it now costs $49,990. The Performance variant again sits steady at $60,990. Among the current electric crossovers in the market, Model Y is the most expensive option.

Tesla Model Y Prices
Tesla Model Y Prices as of 11th March

There has been a lot of talk around the Model S refresh. The Plaid+ variant, which will be the premium model, has been revealed with some beyond-exciting specs. At the time of the announcement of the design refresh, Plaid+ was priced at $139,990. Yesterday, Tesla increased the cost of this variant by a staggering $10,000, which means it now costs $149,990. This puts it at par with Porsche Taycan in terms of price. Of course, all these figures are before options.

Increase in Demand for Tesla Vehicles

2020 was a hugely successful year for Tesla. They were able to deliver a total of half a million vehicles despite the pandemic, a figure that is unprecedented in the company’s history. While the company hasn’t revealed any delivery goals for 2021, top-level executives, including Elon Musk, expect a 50% increase in deliveries this year. Of course, they will have to really dig deep to achieve that.

It may not be as hard as it seems, however. Speculation is that the current quarter has already received a lot of deliveries, with a healthy demand for Tesla vehicles. This has been predicted based on the estimated delivery dates for all Tesla cars on the official websites. This includes the slightly-expensive Model S.

Tesla Model S Plaid+: Is it the ‘Inexpensive Premium Sedan’ it used to be?

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Model S used to have the impression of giving a top-tier performance at an extremely affordable price. In fact, when we compared the range of the topmost variant of the Model S and Porsche Taycan last September, the cost of the Tesla sedan was a little more than half of the Porsche’s. However, the introduction of the Plaid and Plaid+ variants along with the 2021 design refresh might just change that notion.

Currently, the variants of the Model S refresh start at $79,990, which is the Long Range variant. The Plaid variant, previously known as the Performance model, costs as much as $119,990. And of course, the Plaid+, which will start being delivered late this year, was introduced at $139,990. And now, it costs $149,990.

Tesla Model S Prices
Tesla Model S Plaid+ Fully Loaded Price as of 11th March

Don’t forget that these prices are before any optional features. Add the Red Multi-Coat paint, Arachnid Wheels, White Seats, and Full Self-Driving, and it now costs $167,490. Currently, the Porsche Taycan Turbo starts at $152,250 before options. The topmost variant, Taycan Turbo S, starts at $186,350.

Yes, the Model S Plaid+ offers is miles ahead (quite literally) of the Porsche Taycan Turbo or even the Turbo S. An acceleration quicker than 1.99 seconds and a battery range of more than 520 miles (837 km), all while churning out 1100 horsepower out of a tri-motor powertrain – it just seems too good to be true. But, it won’t have the tag of being the ‘affordable yet high-performance’ premium sedan anymore.

Lucid Air Dream Edition
Lucid Air Dream Edition: A Direct Competitor to Tesla Model S Plaid+

Also, we can’t forget that Tesla’s newest rival on the block is directly competing with Model S. Yes, we’re talking about Lucid Air, whose Grand Touring and Dream Edition start at $139,000 and $169,000 before options. With highly competitive prices between the vehicles from the two companies, this upcoming battle is getting more and more exciting.

Our Opinion

The increasing demand for Tesla vehicles, as evidenced by the delayed estimate for deliveries, bodes well for the company, especially if they really want to increase sales by 50%. Model 3 and Model Y are Tesla’s mid-sized affordable vehicles, but an increase in price may prompt some customers to move towards the rivalling companies.

As for the increase in the price of the Model S Plaid+, the specs do make the vehicle worth its cost. And don’t forget that apart from the performance angle, Model S will also have quite a few interesting features, such as being a gaming hub on wheels. With the price factor getting nullified in this race for the crown of the premium sedan segment, Lucid Air, Porsche Taycan and Tesla Model S will now fight it out on the basis of vehicular performance. And who doesn’t love that?

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Mihir Tasgaonkar
A mechanical engineer who loves reading and writing about new technologies in the automobile industry.

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