Tesla’s Model 3 And Model Y Are Going To Cost You Even More

Tesla (TSLA) has once again raised the prices of its Model 3 and Model Y EVs just over a month after the latest price increase.

This marks the fifth price increase for the electric vehicles this year, Business Insider reported.

According to Electrek, some configurations of the Model 3 and Model Y increased by $500 quietly on Thursday.

The Model 3 Standard Range Plus went from $38,490 to $38,990, and the Long Range AWD version went from $47,490 up to $47,990 while the Model Y Long Range AWD model increased from $50,490 to $50,990.

The Model 3 Performance’s price stayed the same at $56,990, and the Model Y Performance’s price also held at $60,990, Electrek said.

There was no indication why the vehicles’ price tags were raised or a public announcement about the price hike from Tesla.

However, it does follow a price decrease of the Model 3 and Model Y back in February which saw some variations of the vehicles drop by as much as $2,000. But by March 11, they increased again by $500, and some prices were raised again on March 24, and then again on April 9, Business Insider said.

Last September, Tesla CEO Elon Musk said that he would come to market with an electric vehicle that would be priced at $25,000 that would be fully autonomous in about three years, Business Insider reported at the time.

Shares of Tesla were trading at $720.13 as of premarket hours on Friday, up 44 cents of 0.06%.