Energy
Wednesday, January 17th, 2024 9:29 pm EDT
Key Points
- Tesla has reduced prices for its Model Y cars in Europe, following a similar move in China, where it has aggressively cut prices over the past year.
- The price cuts apply to countries including Germany, France, Norway, and the Netherlands, with discounts ranging from 4.2% to 8.1%.
- Tesla’s decision to lower prices comes amid increased competition in the electric vehicle market, global challenges, and disruptions to its German operations due to the Red Sea crisis, which led to the suspension of car production at the Berlin-Brandenburg plant.
Tesla has reduced prices for its Model Y cars in several European countries, following a similar move in China. In Germany, the Model Y rear-wheel drive now sells for €42,990, a 4.2% discount, and the Long Range model costs €49,990, an 8.1% reduction. France saw cuts of up to 6.7%, while in the Netherlands, the Model Y prices were reduced by up to 7.7%, and in Norway, Tesla slashed prices by 5.6% to 7.1%. These adjustments come in the wake of Tesla’s price cuts for Model 3 and Model Y cars in China. The electric vehicle market is increasingly competitive, with Tesla facing challenges from other automakers globally. Tesla’s operations in Germany have faced disruptions due to the Red Sea crisis, prompting the suspension of car production at its Berlin-Brandenburg plant. Tesla’s move to lower prices may be strategic amid intensifying competition and global challenges, potentially impacting its market position and share.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/01/17/tesla-slashes-prices-on-germany-cars-after-similar-cuts-in-china.html
