Still not confirmed by the company, the information comes from a reliable source.

Tesla has decided to increase the base price of the Model S by three percent. Translating into numbers, this means the entry-level Model S 60 will wear a starting price of $68,000. The information is not official at this point, but Electrek says “a reliable source” has confirmed the price hike.

The source in question is Reddit user ElonsVelvetJacket, who has provided reliable scoops in the past. Given that, while not official yet, the price increased could be considered as a sure thing. The new price will be effective from November 22. Electrek has reached out to Tesla for confirmation or comments, but the company hasn’t replied so far.

It's important to note that the increase is only for the base Model S, which comes with software-locked battery packs. Basically, this means customers will pay $68,000 for a 75-kWh battery packs locked at 60 kWh energy capacity.

2016 Tesla Model S update
2016 Tesla Model S update

In its sales report for the third quarter of the year, Tesla acknowledged that the introduction of the base Model S 60 in June has resulted in an average price decrease for the all-electric sedan during this period.

“Model S average prices decreased 6.5% sequentially, primarily due to the introduction of the 60 kWh models and production of the 100 kWh variants only starting late in Q3, which would otherwise have balanced that out.”

The Q3 financial report also revealed the Californian automaker has a net income of $22 million for the last three months. What’s probably more important, the brand also posted total revenue of $2.3 billion for the quarter, 145 percent more than Q3 in 2015.

These impressive financial results were possible thanks to significantly increased sales. With 24,821 vehicles sold, Tesla is enjoying a strong 144-percent jump over the third quarter of 2015. The Tesla S is still the top seller with 16,047 deliveries, followed by the Model X SUV with 8,774 sales.

Source: ElonsVelvetJacket via Electrek

Gallery: 2016 Tesla Model S Update