Tesla Inc has reduced prices for its Model Y vehicles in Germany, responding to increased competition from Volkswagen, which surpassed Tesla as the leading electric vehicle seller in the country in 2023. The price cuts include a 9% discount for Model Y Long Range and an 8.1% reduction for Model Y Performance, with the new prices set at 49,990 euros and 55,990 euros, respectively. Tesla also lowered the price of Model Y rear-wheel drive models by 4.2% to 42,990 euros. This move follows Tesla’s recent price reductions for Model 3 and Model Y in China. The price adjustments coincide with Tesla’s announcement of a temporary production suspension at its Berlin factory due to component shortages resulting from disruptions in transport routes. The German electric vehicle subsidy program ended prematurely last month, impacting local carmakers already struggling to compete with Chinese and U.S. rivals on pricing.
🔴
Trending
- At GTC, Nvidia will make a victory lap. However, investors anticipate challenges.
- A year-long stock price drop might make Guess the next fashion brand to go private.
- Why Stitch Fix’s turnaround is working despite the struggling economy
- Nvidia stock nears ‘death cross.’ Should investors fret?
- As customers worry, executives have been talking less about inflation and more about this.
- Trump-discarded stock-market bulls won’t be saved by Powell and the Fed.
- Fed will likely hold rates steady, but ‘bad-news cuts’ in the fall are likely.
- Reddit stock has risen 170% since IPO. Why the honeymoon may be over.
