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Supply Chain Pressure Leads to Price Rise of Tesla Vehicles

Elon Musk tweeted that the price of Tesla vehicles is increasing due to supply chain pressures across the auto industry, particularly for raw materials. Musk said that the Prices increasing due to major supply chain price pressure industry-wide. Raw materials especially.

Elon Musk also responded to an unverified Twitter account called @Ryanth3nerd, which said that I don’t like the direction @tesla is going, raising prices of vehicles but removing features like lumbar for the Model Y. In May, Tesla increased its Model 3 and Model Y prices, the automaker’s fifth incremental price increase for its vehicles in just a few months, the Electrek website reported. During an earnings conference call in April, Musk said Tesla had experienced some of the most difficult supply chain challenges stating a chip shortage. They are mostly out of that particular problem.

Supply Chain Pressure Leads to Price Rise of Tesla VehiclesRegarding the removal of lumbar support on the passenger side in Tesla Model Y, Musk said that  Moving lumbar was removed only in the front passenger seat of 3/Y. Logs showed almost no usage. It does not worth anything when seldom used. New report that new Tesla Model Y owners are reporting that their electric SUVs are being delivered without lumbar support on the passenger side.

The global auto industry has been hit hard by supply chain issues, notably a shortage of computer chips, due to the COVID-19 pandemic. The semiconductor shortage is expected to cost the global automotive industry $110 billion in 2021. Carmakers including Ford and GM have cut their earnings expectations by billions of dollars.Tesla has not been immune to the impacts of the shortage.

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