Tesla raised Model 3 and Model Y prices last week, the first time it has done so in 2022 after more than one dozen price changes last year.
If you were hoping that would be the last price change for a while, Wedbush analyst Dan Ives says more are in store, and another could come within the next two weeks.
Speaking on Yahoo Finance Live earlier today, Ives said the rising inflation rates, along with the rapidly increasing price of nickel, are the main reasons for the price adjustments.
“I think they will announce in the next two weeks probably another price increase. They still have the ability to pass that [inflation] through to the consumer, very similar to Netflix, Amazon Prime and obviously some other stalwarts,” Ives said.
The analyst added that it won’t have a significant impact on Tesla, as demand for their vehicles is currently outstripping supply by about 40%.
The warning from Ives comes one day after Elon Musk admitted on Twitter that inflation is a risk for not only Tesla, but also SpaceX.
