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

© Reuters. FILE PHOTO: Mannequin Y vehicles are pictured throughout the opening ceremony of the brand new Tesla Gigafactory for electrical vehicles in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool by way of REUTERS/File Photograph

(Reuters) -Tesla mentioned on Saturday it might improve the value for its Mannequin Y electrical automobiles (EV) in a variety of European international locations on March 22 by roughly 2,000 euros ($2,177) or the equal in native currencies.

The transfer, introduced in a put up on social media platform X, adopted the automaker’s announcement on Friday that it might improve costs for all Mannequin Y vehicles within the U.S. by $1,000 on April 1.

Tesla (NASDAQ:) had raised the costs of its Mannequin Y rear-wheel drive and long-range automobiles by $1,000 to $43,990 and $48,990, respectively, on March 1.

“That is the important quandary of producing: factories want steady manufacturing for effectivity, however shopper demand is seasonal,” Tesla CEO Elon Musk mentioned in February, replying to a put up on X from his firm asserting that costs would go up the next month.

Tesla’s margins have been harm by a worth conflict with rivals that began greater than a 12 months in the past.

In January, Tesla warned of “notably decrease” gross sales development this 12 months because it focuses on the manufacturing of its next-generation EV, which is code-named “Redwood (NYSE:).”

($1 = 0.9185 euros)