Tesla has announced its latest price increases set to hit one of its vehicles, with the automaker this time planning to increase the price of its economy-level Model Y SUV in multiple European countries.
On Saturday, Tesla said that it will be increasing the price of the Model Y across European countries on Friday, March 22, as stated in a post on X from the company’s Europe and Middle East account. Tesla also said that the price increase would be about €2,000 (~$2,180), or the equivalent in local currencies.
It also comes just weeks after the automaker reverted a temporary price drop to increase the model’s price in the North American market—and just as a similar price increase has been announced in the U.S.
Model Y prices will increase across a number of countries in Europe on Friday, 22nd March
Order within 2 mins via https://t.co/wM14dVxclF to secure current price
— Tesla Europe & Middle East (@teslaeurope) March 16, 2024
In the post, Tesla shares a link to its website, on which the automaker says it only takes two minutes to order a vehicle and will lock in the current Model Y price before the increase. As of writing, Tesla’s most affordable Model Y configuration, the rear-wheel-drive variant, starts at a price of €44,990 (~$49,017) on its order configurator in Germany.
The news arrives as the first quarter of the year comes to a close this month, and following Tesla’s temporary $1,000 discount on the Model Y in North America, which ended earlier this month. Tesla also launched price increases in Germany and Norway in February, applying to all three of the SUV’s configurations.
The Tesla Model Y has been a dominant seller in the European market in the last several months, last year earning the top-selling vehicle spot overall on the continent, and more recently, clinching February’s top-selling vehicle in Germany.
Tesla has also been facing issues at its Gigafactory outside of Berlin, which produces the Model Y for the European market. Earlier this month, activists started a fire at the Grünheide plant, causing a production shutdown that lasted a few days. The Gigafactory regained power and restarted production earlier this week, and the site also gained a visit from CEO Elon Musk, who shared some encouraging words following the attack.
Updated 2:48 p.m. MT: Added Tesla’s U.S. Model Y price cut to the third paragraph.
Tesla Model Y production formally restarts at Giga Berlin-Brandenburg
What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.
