Tesla is raising the price of its Model 3 and Model Y vehicles.

The Tesla Model 3 Standard Range Plus received a $2,000 price hike. It now sells for $41,990. The Model 3 Performance will cost an additional $1,000.

Green Car Reports says the Model 3 Standard Range Plus is now $5,000 more than it was in February.

In the latest round of price increases, the Model Y saw similar hikes. The Long Range is now $54,990, an increase of $2,000. The Model Y Performance is $1,000 more, coming in at $61,990.

Tesla CEO says the global chip shortage is partly to blame for the price increases.