Tesla to Raise Prices on Model Y Electric Vehicles in Parts of Europe

Reuters03-17

(Reuters) - Tesla said on Saturday it would increase the price for its Model Y electric vehicles (EV) in a number of European countries on March 22 by approximately 2,000 euros ($2,177) or the equivalent in local currencies.

The move, announced in a post on social media platform X, followed the automaker's announcement on Friday that it would increase prices for all Model Y cars in the U.S. by $1,000 on April 1.

Tesla had raised the prices of its Model Y rear-wheel drive and long-range vehicles by $1,000 to $43,990 and $48,990, respectively, on March 1.

"This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal," Tesla CEO Elon Musk said in February, replying to a post on X from his company announcing that prices would go up the following month.

Tesla's margins have been hurt by a price war with rivals that started more than a year ago.

In January, Tesla warned of "notably lower" sales growth this year as it focuses on the production of its next-generation EV, which is code-named "Redwood."

($1 = 0.9185 euros)

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Comments

  • Mr Bull
    03-17
    Mr Bull
    Hope it will help the share price to reverse!
  • FGP
    03-17
    FGP
    💤 💤 💤 
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