Tesla will lower price for cars if inflation calms down: Musk

San Francisco, July 16

Tesla CEO Elon Musk said that his electric vehicle company Tesla would pull down the prices of its car if the inflation calmed down.

On the microblogging site Twitter, the tech honcho mentioned the car prices on being asked by a user if the company plans to down the cost of cars after the pandemic or supply chain matters.

"If inflation calms down, we can lower prices for cars," the tech billionaire wrote on Twitter.

Last month, Musk-owned Tesla once again increased the prices of its electric cars across its entire lineup, with some models going up by as much as $6,000.

After a year of increasing prices almost every month in 2021, Tesla slowed down the rapid rise in prices across its electric vehicles in early 2022.

However, it later updated its online configurator overnight to increase prices across its entire lineup.

As per a recent report, the Model 3 is the one that got the smallest price increase of all Tesla's lineup. Only the Model 3 Long Range is affected as it went from $54,490 to $57,990, a $2,500 price increase, the report said.

The Model Y, which has become Tesla's most popular model, has received a more significant price increase, with both versions of the electric SUV going up in cost.

Model Y Long Range went from $62,990 to $65,990, and Model Y Performance went from $67,990 to $69,990.