© Reuters. FILE PHOTO: Model Y cars during the opening ceremony of Tesla's new electric car Gigafactory in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photo
(Reuters) -Tesla said on Saturday it would increase the price of its Model Y electric vehicles (EV) in several European countries on March 22 by about 2,000 euros ($2,177) or its equivalent in local currencies.
The move, announced in a post on social media platform
Tesla (NASDAQ had raised the prices of its Model Y rear-drive and long-range vehicles by $1,000 to $43,990 and $48,990, respectively, on March 1.
“This is the essential dilemma of manufacturing: Factories need continuous production to be efficient, but consumer demand is seasonal,” Tesla CEO Elon Musk said in February, responding to a post on X de his company announcing that prices would rise next month.
Tesla's margins have been hit by a price war with rivals that began more than a year ago.
In January, Tesla warned of “noticeably lower” sales growth this year as it focuses on production of its next-generation electric vehicle, codenamed “Redwood (NYSE:).”
(1 dollar = 0.9185 euros)
