Tesla increases the price of Model Y, Model 3 variants

Tesla Inc has raised the price of its Model 3 Long Range and Standard Range Plus and Model Y Long Range by $500, the automaker’s website showed on Friday.

The price of its cheapest Model 3 Standard Range Plus has been increased to $39,990, whereas the Model 3 Long Range AWD was increased to $48,990.

Its Model Y Long Range AWD is now priced at $51,990 compared with $51,490 earlier, according to the website.

Tesla delivered 182,780 Model 3/Ys in the first quarter, increasing 13% from the preceding quarter. An increase in production and solid demand for its less expensive models had helped offset the impact of a worldwide shortage of parts.