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Tesla to raise prices on Model Y electric vehicles in parts of Europe

Tesla to raise prices on Model Y electric vehicles in parts of Europe

by Mose Hickle

Tesla to raise prices on Model Y electric vehicles in parts of Europe

:Tesla acknowledged on Saturday it may maybe maybe maybe perhaps magnify the worth for its Model Y electrical vehicles (EV) in a preference of European international locations on March 22 by roughly 2,000 euros ($2,177) or the identical in local currencies.

The race, announced in a post on social media platform X, adopted the automaker’s announcement on Friday that it may maybe maybe maybe perhaps magnify costs for all Model Y cars within the U.S. by $1,000 on April 1.

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Tesla had raised the costs of its Model Y rear-wheel pressure and lengthy-vary vehicles by $1,000 to $43,990 and $Forty eight,990, respectively, on March 1.

“Right here is the foremost fetch 22 situation of manufacturing: factories need trusty production for efficiency, but consumer request is seasonal,” Tesla CEO Elon Musk acknowledged in February, replying to a post on X from his company announcing that costs would race up the next month.

Tesla’s margins were hurt by a stamp warfare with competitors that started extra than a year ago.

In January, Tesla warned of “critically decrease” gross sales enhance this year as it focuses on the production of its subsequent-generation EV, which is code-named “Redwood.”

($1 = 0.9185 euros)

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Source: Reuters

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