Elon Musk stays true to his word: Tesla raises the price of autonomous driving to $ 8,000

Stay consistent with what Elon Musk had suggested in May, You’re here (NASDAQ: TSLA) today announced that the cost of the Autonomous Driving Complete Package (FSD) is now $ 8,000, an increase of $ 1,000 from its previous price. While the price increase may seem steep, it is considerably more attractive than the price Musk imagined for sophisticated software in the future. In addition to announcing the increase in the price of the FSD package on July 1, Musk also tweeted that “the price of FSD will continue to increase as the software nears full autonomous driving capability with regulatory approval. . At this point, the value of The FSD is probably over $ 100,000. “

According to Electrek.co, which covers the electric transportation industry, some Tesla drivers anticipated the higher price and decided to purchase the FSD package last quarter. In fact, the website reported that “Tesla not only made people order the FSD package last quarter before the price hike, but they also allowed early Model 3 owners to order the basic autopilot. for $ 2,000 and upgraded autopilot owners to upgrade to the FSD package for $ 3,000. ”

Image source: Tesla.

Musk may have used the previous quarter’s price increase as a way to generate higher income as the COVID-19 outbreak is said to negatively impact auto sales. In a similar move aimed at increasing sales, Tesla also reduce the price on his Model S Long Range Plus last month.

While the FSD package is available for Tesla owners, it’s important to note that the actual technology included in the package is not yet available.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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