Tesla Raises Model 3 and Model Y Prices The hike comes ahead of a shareholder meeting slated for Thursday night.

By Emily Rella

Opinions expressed by Entrepreneur contributors are their own.

Xinhua News Agency | Getty Images

Tesla has raised the prices of its Model 3 and Model Y electric vehicles again, which makes the Cybertruck its least expensive offering. The hike comes ahead of a shareholder meeting slated for Thursday night.

The Model 3 Standard Range Plus saw a $2,000 increase. The starting price is now $41,990 but gets higher as destination fees are applied.

The Model Y Long Range Dual Motor also saw a $2,000 increase, bumping it to $54,990.

Top-of-the-line performance versions of both models also went up $1,000, though the mid-level Model 3 Long Range stayed the same at $49,990.

By comparison, the Cybertruck costs $39,900. It, however, is not due for production until late next year.

These increases were not the first to hit Tesla's vehicles. The Model 3 now costs $5,000 more than it did earlier this year. CEO Elon Musk blamed the earlier adjustments on supply chain issues.

Emily Rella

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Innovation

4 Ways Market Leaders Use Innovation to Foster Business Growth

Forward-thinkers constantly strive to diversify and streamline their products and services, turning novelties into commodities desired by many.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Leadership

From Elite Athletes to Tech Titans — Discover the Surprising $100-Million Habit That Leads to Extraordinary Success

Success comes from mastering focus, eliminating distractions and prioritizing what truly matters.

Side Hustle

'Hustling Since Middle School': She Started a Side Hustle on Facebook Marketplace — Then a 'Game-Changer' Grew It to $25,000 a Month

Leena Pettigrew's "entrepreneurial spirit" inspired her to build a business with earnings that outpaced her full-time income.

Growing a Business

How Meta Generated $32 Billion in Ad Revenue Last Quarter — and How You Can Create Million-Dollar Weekends Using the Same Strategies

Meta's staggering $32 billion quarterly ad revenue isn't just about size; it's about strategy, systems and execution as well.