As Tesla heads for what could very well be a turning point in its history and its journey towards becoming a mainstream American carmaker, the company opted to adjust the price of the Red Multi-coat color option for the Model 3. With the most recent price adjustment, the Model 3’s Red Multi-coat option now costs $2,500.
As noted in an Electrek report, Tesla appears to have adjusted the price for Red Multi-coat for all of its vehicles, which include the Model S sedan and the Model X SUV. The price changes come not long after the company announced that it would be removing two color choices — Obsidian Black and Silver Metallic — from the Model 3’s paint options. Tesla CEO Elon Musk explained the decision in a tweet, stating that it was done to optimize the paint processing, thereby further improving the company’s production rates for the electric car.
The price of the Red Multi-coat color option has steadily risen since the Model 3 started production. Initially starting at $1,000, the price was eventually hiked up to $1,500, before it was raised once more to $2,000. The most recent adjustment stands as a 25 percent increase in price from the paint option’s previous cost.
Elon Musk has been particularly fond of the Model 3’s Red Multi-coat option. In a tweet earlier this month, Musk noted that he “loves” the shade considering that the company worked incredibly hard to make the red “look 3D without floating a special red tint in primary gloss layer.” Musk, however, stated that the company has to stop the whole paint shop whenever they are about to paint red cars. In true Elon Musk fashion, the CEO noted that whenever Tesla paints Red Multi-coat Model 3s, the whole paint shop ends up looking like an episode of Dexter.
Tesla is currently attempting to produce and deliver as many Model 3 as it can to reservation holders before the end of September, which stands at the end of the third quarter. Earlier this year, Elon Musk issued a bold declaration on Twitter when he announced that Tesla would be profitable by the third or fourth quarter of the year. Since then, the company has been in overdrive in its attempt to manufacture the Model 3 at scale.
With this in mind, it appears that recent price adjustments, such as the AWD Dual Motor upgrade for the Model 3 being priced $6,000 and Red multi-coat paint now costing $2,500, are Tesla’s way of increasing its chances of ending Q3 2018 on a strong note.