Tesla is raising Model 3 prices in Europe due to potential higher tariffs

From The Nasdaq Stock Market.: 2024-06-14 09:31:00

Tesla is increasing prices for the Model 3 in Europe from Jul 1, 2024, due to potential higher tariffs on Chinese electric cars by the EU. The exact increase is undisclosed, but Model 3 starts at $44,000 in Germany. The EU plans to impose provisional duties on cars from China, with definitive measures expected in November.

Zacks Rank #3 Tesla exports vehicles from its Shanghai factory to Europe. The factory delivered 947,000 cars in 2023, with a significant portion exported outside China. Better-ranked auto stocks include Zacks Rank #1 Blue Bird Corporation, Oshkosh Corporation, and American Axle & Manufacturing Holdings, Inc. Sales and earnings estimates show growth projections for these companies.

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