Tesla hikes US prices across car models as raw material costs surge

The price hike comes as costs of raw materials have surged, including aluminium that is used in cars. PHOTO: AFP

BENGALURU (REUTERS) - Tesla has raised prices for all its car models in the United States, its latest price hike amid ongoing global supply chain issues.

The electric-car maker increased its long-range Model Y price to US$65,990 (S$91,800) from US$62,990, its website showed on Thursday (June 16), after delaying the deliveries of some long-range models in the US by up to a month.

The price hike comes as costs of raw materials have surged, including aluminium that is used in cars.

Tesla chief executive officer Elon Musk has warned about the risk of a recession in recent weeks. Earlier this month, the billionaire said he had a "super bad feeling" about the economy after cutting about 10 per cent of jobs at Tesla.

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