Back in July 2021, we reported that the Tesla Model 3 had received its second price cut of the year, meaning that Kiwi buyers we able to snap up Tesla's smallest vehicle from just $66,990.
Throw in the government's clean car rebate of $8,625 for plug-in vehicles, and you could have yourself a Model 3 from just $$58,275, which is why it quickly became New Zealand's best-selling EV.
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More recently, stories have been emerging out of America saying that price hikes are hitting Tesla hard, and they have seen increases across the whole vehicle range.
Unsurprisingly, New Zealand isn't immune from these hikes and just recently we've seen the price of the Model 3 increase, meaning that it's no longer a sub-$60k EV.
About two weeks ago, the entry level Model 3 was hit with a $2000 increase, and just overnight all Model 3 specs were hit with another.
Now the Model 3 Rear-Wheel Drive can be had from $72,400, the mid-spec Long Range is going for $86,900, and the Performance from $100,900.
Though the entry level Model 3 is still eligible for the $8,625 clean car discount, buyers will now have to fork out $63,775, which is around $5,000 more.
Reports are stating that most of these increases are coming from the rising cost of nickel as a result of the ongoing conflicts in Ukraine.
Elon Musk also weighed in on the issue via Twitter, stating that both Tesla and SpaceX are being hit with increased operating costs as a result of “inflation pressure in raw materials & logistics”.