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Tesla Price Yo-Yo Continues With Model Y Hikes In Europe

Tesla (TSLA) raised Model Y prices in some European countries overnight, less than a month after cutting European prices on its top-selling EV and days after temporarily reducing U.S. prices.

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The U.S. EV giant hiked its Standard Range+ Model Y in Germany by 2,000 euros to 44,990 euros. It raised its Long Range and Performance variants by 2,500 euros, to 52,490 euros and 58,490 euros, respectively. That's after cutting the Model Y SR+ by 1,900 euros on Jan. 17, while reducing the other two variants by 5,000 euros.

Tesla also raised Model Y prices in Norway by 3.9%-5.3%, after reducing them by 5.6%-7.1% on Jan. 17. Prices are still slightly lower than they were before the Jan. 17 cut.

On Feb. 12, Tesla's Berlin plant restarted production after a two-week suspension. The company cited parts shortages due to Red Sea shipping delays, but there was no question that Model Y inventories were high.

While Tesla prices have trended sharply lower since the start of 2023, the EV maker has raised prices at times

On Saturday, Tesla reduced U.S. prices on its Real Wheel Drive and All Wheel Drive Model Y variants by $1,000, but only through Feb. 29. Tesla still discounts Model Y inventory by far more than current list prices.

A week earlier, Tesla raised the Model 3 Long Range price in the U.S. by $1,000.

Tesla stock fell 2.8% to 188.13 in Monday's market trading.

Please follow Ed Carson on  Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.

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Source: investors.com

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