Black Tesla Model S at sunset with ocean in background.

If you’ve been saving up pennies to buy a Tesla Model S, you’re going to need a bigger piggybank. The California automaker has just announced the price will be going up by $2,500 for US customers ($2,600 in Canada). That comes out to $59,900 for the base version with the 40 kWh battery and $94,400 for the top end Model S Performance with the 85 kWh pack.

Of course, that’s before taking the $7,500 federal EV tax credit into account, so in the end those two examples would cost you $52,400 and $86,900, respectively. We had feared the increase might be higher when we first heard it was coming and possibly impact sales, but we don’t think the additional dollars will deter many prospective buyers. Especially not since receiving its recent accolades.

Still, if you want to avoid paying the extra amount there’s still time to get in on the original deal as the increase only impacts reservations taken after January 1, 2013. Deliveries are said to take place several months after reserving, though with approximately 16,455 already ordered (according to the Tesla-obsessed at Tesla Motors Club) and only about 1,000 of those delivered, it might be August before new customers see this ground-breaking all-electric hatch in their driveway. Scroll below for the official press release.

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By Domenick Yoney