Tesla is raising Model Y prices in Europe to combat price war with competitors

From Investing:

Tesla plans to increase the price of its Model Y EVs in Europe by approximately 2,000 euros on March 22, following a $1,000 increase for U.S. models on April 1. CEO Elon Musk cited the challenge of balancing continuous production with seasonal consumer demand. Tesla’s margins have suffered due to a price war with rivals.
In response to lower sales growth, Tesla is focusing on producing its next-generation EV, code-named “Redwood.” The price increase comes as the company faces challenges in maintaining efficiency while meeting changing consumer demand. Tesla’s margins have been affected by a price war with competitors.



Read more at Investing: Tesla to raise prices on Model Y electric vehicles in parts of Europe By Reuters