Tesla chief Elon Musk says price of some cars to rise, here’s why

By LuxuryFOXBusiness

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Tesla CEO Elon Musk took to Twitter on Tuesday to say that if you want your vehicle in certain previously available standard colors, it is going to cost you more.

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Starting Wednesday, two of the seven paint colors – Obsidian Black and Metallic Silver – will be moved “off the menu” to “simplify manufacturing,” Musk wrote, but will still be available upon special request.

It is not clear how much more those colors will cost interested buyers. However, most color options already cost buyers extra, including Pearl White and Red Multi-Coat, which were the most expensive.

“Solid Black” is the only color that comes included in base pricing.

Tesla shares fell Tuesday after the announcement, which could spark concerns that the company is struggling to meet production goals.

TickerSecurityLastChange%Chg
TSLATESLA INC.347.49-5.98-1.69%

Tesla has been under pressure to ramp up production, particularly of its Model 3 sedan. In the second quarter, the automaker hit a delivery goal of producing 5,000 vehicles per week. Tesla is hoping to beat that number during the current quarter, and despite reports production is falling short, Musk said on Monday the automaker is on track “to have the most amazing quarter in our history.”

In a recent interview with The New York Times, Musk emotionally detailed how the past year had been the most “difficult” of his career, owing in part to those who continue to bet against his company. He previously announced he was considering taking the company private, because he wasn’t sure Tesla’s goals were compatible with the demands of the quarterly earnings cycle.