Price increases for Tesla and Kia EVs
Monday, 20 June 2022
Tesla and Kia have both confirmed price hikes for their EVs, with the latter’s increase pushing another model above the $80,000 Clean Car Discount cap.
Kia has increased the EV6’s price by a flat $5000 for each trim level, which means the base rear-wheel drive Air Standard Range now starts at $77,990, up from $72,990. It also pushes the RWD Air Long Range up to $83,990, meaning it no longer fits the bill for the $8625 rebate.
The all-wheel drive Earth Long Range now starts at $99,990 and the current range topper, the GT-Line kicks off at $111,990.
Compare those prices to the mechanically identical Hyundai Ioniq, which still starts at $79,990 for the rear-wheel drive 58kWh and $89,990 for the 72kWh rear-wheel drive.
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Hyundai has bumped the prices of the 72kWh AWD by $1000, now asking $95,990, as well as the 72kWh RWD Elite, starting at $97,990.
Finally, the AWD Elite is up by $2000 to either $111,990 and $114,990, depending on if you ask for the solar roof or not.
Meanwhile, Tesla has increased the price of the Model 3 again, pushing the entry Standard Range model up by $1700 to $74,900. The Long Range has been adjusted by $4300, from $86,900 to $91,200, and the Performance is up by $3000 to $103,900.
The just-announced Model Y pricing is unchanged, with prices starting at $76,200 for the entry RWD model and topping out at $108,900 for the AWD Performance model.
While the reason for the price hikes is yet to be outright confirmed, it’s a pretty fair bet to say they are related to struggles with inflation, manufacturing/material costs, and the ongoing Covid-19 pandemic.
Unfortunately, it doesn’t look like things are going to get much easier any time soon.