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Elon Musk: Prices for the Model Y and other Tesla vehicles are "frankly at embarrassing levels"

The Tesla Model Y base model can be ordered for a list price of at least US$65,990 (Image: Tesla)
The Tesla Model Y base model can be ordered for a list price of at least US$65,990 (Image: Tesla)
The prices of EVs made by the Texas-based automaker have risen sharply due to the rampant inflation, and they have now hit an embarrassingly high level according to its CEO. Musk therefore hopes that a waning inflation towards the end of the year could pave the way for potential price reductions of popular electric cars like the Tesla Model Y.

An unbearably high inflation rate is currently a major issue for consumers in many markets around the world. While the essential energy and food costs have skyrocketed in many places, the prices of battery-powered electric cars such as the Tesla Model Y, which could actually contribute to a shift towards renewable energy, have also increased significantly. In a refreshingly honest and forthright statement, CEO Elon Musk has now commented on this unfortunate situation during a conference call in the wake of Tesla's surprisingly solid earnings report for the second quarter of 2022.

According to an article published by InsideEVs, Musk openly admitted that even he finds Tesla's new prices to be “at embarrassing levels”. Aside from the general inflation, shortages and supply chain issues in particular have forced the EV maker to increase its prices across the board. It is also known that a lack of qualified workers has temporarily slowed the production of the Tesla Model Y at the brand-new Gigafactory near the German capital Berlin.

On a slightly more optimistic note, Elon Musk also predicted that inflation could slow down towards the end of the year, although he emphasized that he cannot make any promises in this regard. However, the eccentric CEO still hopes that prices for electric cars like the Tesla Model Y could eventually be lowered by a bit. Either way, Musk also affirmed that there is still a lot of demand for Tesla vehicles despite the increased prices, and that the automaker is constantly working on reducing its delivery times, which can currently amount to six months or longer for the aforementioned Tesla Model Y Long Range.

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Source(s)

InsideEVs, Image: Tesla

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2022 07 > Elon Musk: Prices for the Model Y and other Tesla vehicles are "frankly at embarrassing levels"
Enrico Frahn, 2022-07-24 (Update: 2022-07-24)