Tesla may be considering a price rise for Model S

According to Electrek's Fred Lambert, Tesla is considering raising the price of its Model S next month. Currently priced at around $70k, it is unclear how much the price may increase, however rumours surrounding the rise suggest that Tesla is building a new version of the Model S, expected to be released this spring. Tesla is expected to provide further detail on 31 March when it unveils its new Model 3. 

Tesla Model S Tesla Motors

If you're on the fence about buying a Model S, you might want to pull the trigger sooner rather than later.

Electrek's Fred Lambert reports Tesla might raise the price of the Model S, its flagship car, as soon as next month.

The Model S starts at around $70,000. Though it's unclear how much its price might increase, we imagine it will still cost less than the starting price of the Model X, which starts at $80,000 before tax incentives.

Lambert says this price hike for the Model S would happen after Tesla unveils its Model 3 car on March 31. Lambert says Tesla representatives have been warning customers about a potential price hike.

News about a price hike seems to align with a growing list of rumors that suggests Tesla is building a new version of the Model S to release this spring.

Last year, reports said Tesla might redesign the Model S to be more on par with the Model X crossover. In February, Tesla quietly stopped making the 85 kWH battery pack for the Model S. Then, a few weeks ago, one hacker even discovered some interesting code buried in the operating system of a salvaged Model S, hinting at a new Tesla Model S called "P100D."

And just this past weekend, Tesla apparently updated its online design studio for the Model S to show a new interior and center console, which all look similar to those respective items in the Model X.

According to Electrek, the P100D version of the Model S could have 11% more battery capacity compared to the 90kWh battery Tesla introduced last year. This might mean the new Model S can achieve around 300 miles on a single charge, but we probably won't know those details until Tesla announces them, hopefully at its March 31 event.

Updating the Model S makes sense. It's Tesla's most popular car, sure, but there's a lot of focus on the Model 3, even though that affordable car won't be available until later next year. In the meantime, the Model X and a newer, albeit pricier Model S should help keep fans and prospective customers interested.

Tesla did not immediately respond to a request for comment.