The price of Tesla cars are suddenly on the rise but not many people are pleased with the changes but the company’s CEO Elon Musk has made it known that the increase in price is due to the raw materials as well as issues with supply chain pressures across the entire auto industry.
He made this known during a response tweet he made to the user @Ryantht3nerd who complained about the sudden hike in the price of the Tesla Model Y despite adding no real feature to the EV.
In his words he said “I really don’t like the direction @tesla is going raising prices of vehicles but removing features like lumbar for the Model Y…”
Elon Musk responded to the tweet explaining why the lumbar was yanked off both the Model Y and Model 3 as log showed that the feature isn’t used so it’s probably going to become an option which users might opt for if they want it as Musk stated Tesla won’t be making the lumbar a mass feature on all its Model Y and 3 any longer.
In response to the removal of lumbar support on the passenger side in Tesla’s Model Y, Musk said, “Moving lumbar was removed only in front passenger seat of 3/Y (obv not there in rear seats). Logs showed almost no usage. Not worth cost/mass for everyone when almost never used.”
New Tesla Model Y owners were reportedly getting the SUV sans the lumbar support on the passenger side which prompted some of the users to voice their dissatisfaction for this new changes despite the increase in the price tag of the vehicle.
Speaking of the sudden price hike, the electric automaker increased the price tag of its Model 3 and Model Y back in May making it the fifth increment in the price of these vehicles in just a few months according to the popular EV news site Electrek.
Back in April, Elon Musk made it known that his company had experienced some of the most difficult supply chain challenges especially with the production of chips. “We’re mostly out of that particular problem,” he added at the time.
This is just part of the economic impacts of the COVID-19 pandemic as it has caused an alarming situation of hyperinflation across the United States and other countries around the world due to the shortage of production.
Many governments across rich countries in the world bailed their citizens out financially during the COVID-19 lockdown and many kept their money.
Simply put, there are more money than products to be purchased hence inflation. The automobile industry is just one of the many industry affected by the current state of the economy across the globe and not in the US alone.