Tesla Model 3 prices jump for the second time in a week

Last Friday the local price of Tesla’s entry level Model 3 increased by $2000, ending a string of price cuts that’s helped the nameplate gain popularity in New Zealand.

Now, less than a week later, the model has inherited a more severe set of price increases across the board.

All three Model 3 variants were given price increases overnight. The entry level Model 3 has gone from $68,900 to $72,400, the mid-spec Long Range from $82,900 to $86,900, and the flagship Performance from $95,900 to $100,900.

Just like the previous price hike, this one has also been felt around the world, with Tesla lifting prices in North America, China, and other markets.

New Zealand’s dual price bumps represent an 8.2% increase for the entry-level variant. This percentage mirrors the percentage increase in US pricing.

It’s been reported that the prices of Tesla’s Model S and Model X variants have also increased in the US. It cannot be confirmed whether this change also applies to New Zealand, with Tesla having removed pricing information for both the S and the X on its local website.

Instead the ordering portal of its website now states that “pricing and options will be finalised as delivery approaches”.

Tesla has yet to comment on either of its recent price adjustments, although most pundits have linked the change to rising costs of nickel as a result of the war in Ukraine.

As previously reported, Russia is the third largest producer of nickel in the world. Nickel is commonly used in HEV, PHEV, and BEV batteries, across the marine industry, and in the production of coins, nails, and pipes.

Tesla CEO Elon Musk offered some insight into the price increases earlier this week, tweeting on Monday that Tesla and SpaceX are being affected by “inflation pressure in raw materials & logistics”.