After multiple price hikes that pushed Tesla’s bestselling Model Y above $65,000 for the bottom version, CEO Elon Musk said the automaker’s overall pricing is “at embarrassing levels” and blamed supply chain shocks and overwhelming demand for the steady march upward.
“We’ve raised our prices a number of times,” Musk said on the business’s second-quarter earnings call Wednesday. “They’re frankly at embarrassing levels. But we’ve also had plenty of supply chain and production shocks and we have crazy inflation.”
Musk said that inflation is apparently cool down and he’s hoping in order to avoid any extra increases on Tesla’s four-vehicle lineup this season and to maybe even bring prices down.
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