Tesla’s automobile value positive factors as a consequence of provide chain strain: Elon Musk

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Elon Musk, Tesla CEO, attends an opening ceremony for Tesla’s Chinese-made Model Y program in Shanghai, east China, on Jan. 7, 2020.

Ding Ting | Xinhua News Agency | Getty Images

The price of Tesla vehicles is rising due to pressures in the supply chain across the auto industry, especially raw materials, Elon Musk said Monday in response to a tweet.

“Prices are rising due to industry-wide price pressure in the supply chain. Especially raw materials, “Musk said in a tweet.

He replied to an unverified Twitter account called @ Ryanth3nerd who said, “I like the direction @tesla is raising vehicle prices, but I really don’t like the removal of features like lumbar vertebrae for the Model Y …”

In May, Tesla raised its prices on Model 3 and Model Y, the automaker’s fifth incremental price hike for its vehicles in just a few months, the Electrek website reported.

During an April results conference call, Musk said Tesla had experienced “some of the toughest challenges in the supply chain,” citing a chip shortage. “We are mostly out of this particular problem,” he added at the time.

In response to removing the passenger side lumbar support in Tesla’s Model Y, Musk said, “The movable lumbar support was only removed from the passenger seat from 3 / Y (obv not present on the rear seats). The logs showed almost no use. Cost / Mass not worth it for everyone if it is almost never used. “

On the previous Monday, Electrek reported that new Tesla Model Y owners are reporting that their electric SUVs will be delivered without lumbar support on the passenger side.

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