Tesla increases prices of its vehicles by thousands of dollars as raw material costs rise.

The price of a Tesla Model X has increased by more than $10,000 to $114,900. Price increases for the Model S ($99,990), Model 3 Performance ($61,990), and Model Y ($62,990) total $5,000, $3,000, and $4,000, respectively. However, according to the Labor Department, the average cost of a new car has increased by 12% from a year earlier. According to Kelley Blue Book, the average price of a new car today is $46,404.