22, February, 2024
HomeBusinessTesla Slashes Model Y Prices in Germany Following China's Lead

Tesla Slashes Model Y Prices in Germany Following China’s Lead

Published on

Tesla Inc. has made a significant move by reducing the prices of its Model Y cars in Germany, closely following the recent price adjustments for Model 3 and Model Y in China.

Read Also | Euro Strengthens Amid Positive Euro Zone Data, U.S. Markets Closed for Thanksgiving

In this latest adjustment, Tesla has cut the prices for the Model Y Long Range and Model Y Performance by 5,000 euros, now priced at 49,990 euros ($54,340) and 55,990 euros, respectively. These reductions represent discounts of 9% and 8.1% compared to the previous prices.

Additionally, Tesla has also decreased the price of the Model Y rear-wheel drive models by 1,900 euros, a 4.2% reduction, bringing the new price to 42,990 euros, as per information available on its website.

This move comes in the wake of Tesla’s recent announcement about the suspension of most car production at its factory near Berlin from Jan. 29 to Feb. 11. The company attributes this suspension to a shortage of components resulting from changes in transport routes due to incidents in the Red Sea.

It’s noteworthy that the price adjustments in Germany coincide with the premature ending of the country’s electric vehicle subsidy program, originally slated to run until the end of 2024.

Read Also | Shah Rukh Khan’s Security Boosted to Y+ Category Amid Alleged Threats

The conclusion of this program was expected to impact German automakers, who were already grappling with the challenge of aligning their prices with those offered by Chinese and U.S. competitors.

Latest articles

India-China Corps Commander Talks: 21st Round Addresses Disengagement Challenges

The 21st Corps Commander Level Meeting between India and China unfolded on Monday at...

Centre Urges Dialogue as Farmers Tear-Gassed: Latest Developments in Delhi Chalo Protest

On Wednesday, the Centre appealed to protesting farmers for the fifth round of talks,...

UN Halts Vital Food Aid to Northern Gaza Amid Escalating Violence

The World Food Programme (WFP), a key humanitarian organization, has suspended crucial food deliveries...

More like this

Navigating Market Volatility: Insights from Trivesh D, COO of Tradejini, Ahead of 2024 Elections

In anticipation of the upcoming elections, Trivesh D, Chief Operating Officer at Tradejini, foresees...

Davangere Sugar Company Ltd Surges After Record Q3 Results: A Multibagger Stock in Focus

Davangere Sugar Company Ltd, a standout multibagger in the Indian stock market, has witnessed...

Unlocking Investment Potential: Insights from Manish Goel on Navigating Market Trends and Opportunities

Manish Goel, the visionary Founder & MD of Research & Ranking, envisions a promising...
Enable Notifications OK