Elon Musk blames ‘supply chain price pressure’ for Tesla’s increasing prices

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Illustration by Alex Castro / The Verge

Tesla CEO Elon Musk has blamed supply chain price pressure for incremental price increases the company has made to its Model 3 and Model Y vehicles over the past several months. “Prices increasing due to major supply chain price pressure industry-wide,” the CEO tweeted in response to a complaint about the changes. “Raw materials especially.”

Today, the CEO followed up to say that “microcontroller chips” are a particular challenge right now. But although Musk said that he’s “never seen anything like it,” he added that he doesn’t expect this to be a long-term issue. “Fear of running out is causing every company to overorder – like the toilet paper shortage, but at epic scale.”

Musk had previously indicated in an April earnings call that...

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