Tesla (TSLA) raised Model Y prices in some European countries overnight, less than a month after cutting European prices on its top-selling EV and days after temporarily reducing U.S. prices. Tesla stock fell slightly early Tuesday.
X
The U.S. EV giant hiked its Standard Range+ Model Y in Germany by 2,000 euros to 44,990 euros. It raised its Long Range and Performance variants by 2,500 euros, to 52,490 euros and 58,490 euros, respectively. That’s after cutting the Model Y SR+ by 1,900 euros on Jan. 17, while reducing the other two variants by 5,000 euros.
Tesla also raised Model Y prices in Norway by 3.9%-5.3%, after reducing them by 5.6%-7.1% on Jan. 17. Prices are still slightly lower than they were before the Jan. 17 cut.
On Feb. 12, Tesla’s Berlin plant restarted production after a two-week suspension. The company cited parts shortages due to Red Sea shipping delays, but there was no question that Model Y inventories were high.
While Tesla prices have trended sharply lower since the start of 2023, the EV maker has raised prices at times.
On Saturday, Tesla reduced U.S. prices on its Real Wheel Drive and All Wheel Drive Model Y variants by $1,000, but only through Feb. 29. Tesla still discounts Model Y inventory by far more than current list prices.
A week earlier, Tesla raised the Model 3 Long Range price in the U.S. by $1,000.
Tesla Stock
TSLA stock dipped 1% in Tuesday’s premarket trading. Shares fell 2.8% to 188.13 on Monday.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
YOU MIGHT ALSO LIKE:
Why This IBD Tool Simplifies The Search For Top Stocks
Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader
Best Growth Stocks To Buy And Watch
IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today
Tesla, BYD Struggle Amid Weak Earnings, Tough Climate
Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
