According to Reuters, after reducing the prices of Model 3 and Model Y in China, Tesla has made substantial price cuts for the Model Y in Germany.
Tesla has lowered the prices of both the Long Range and Performance versions of the Model Y by 5,000 euros each. The revised prices are now 49,990 euros (equivalent to $54,340) and 55,990 euros, representing reductions of 9% and 8.1%, respectively.
Additionally, Tesla has reduced the price of the Model Y Rear-Wheel Drive version by 1,900 euros (a 4.2% decrease), bringing it to 42,990 euros.
As the price war intensifies among electric car manufacturers, BYD is also lowering the prices of its electric cars in Germany. Reportedly, BYD has made the highest price cut of up to 15% for electric cars in Germany to expand its leading position in key markets.
While Germany's electric car subsidy program was originally scheduled to last until the end of 2024, it was prematurely terminated last month, expected to impact German automakers. Currently, German car manufacturers are striving to align their electric car prices with those of their Chinese and American competitors to maintain competitiveness.
Tesla announced last week that it would suspend most car production at the Berlin factory from January 29th to February 11th, attributing it to the tense situation in the Red Sea. Following attacks on ships in the Red Sea, major international shipping companies have changed their transportation routes, leading to extended shipping times and component shortages.
