Europe: Tesla to raise prices on Model Y electric vehicles

Tesla announced on Saturday that the price of its Model Y electric cars (EV) in certain European nations will rise by around 2,000 euros ($2,177) or the equivalent in local currencies on March 22.

On March 1, the business also hiked the cost of its Model Y rear-wheel drive and long-range vehicles by $1,000, to $43,990 and $48,990, respectively.

Additionally, all new Model Y orders (cash or credit purchases) delivered by March 31 will include 5,000 free Supercharging miles. Those who trade in a car can get an extra 5,000 miles, totaling up to 10,000 miles.

Tesla did not specify if the April hike would come on top of the March increase for rear-wheel and long-range vehicles.

“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” Tesla CEO Elon Musk stated in February, in response to his company’s post on X indicating that prices will rise the next month.

A pricing battle with rivals that began more than a year ago has harmed Tesla’s profitability.

Tesla warned in January that sales growth will be “notably lower” this year as it focused on the development of its next-generation EV, code-named “Redwood.”