Tesla Inc cut the prices of its Model Y cars in Germany, a week after the automaker cut the prices of the Model 3 and Model Y in China. Tesla has cut the prices of the Model Y Long Range and Model Y Performance by 5,000 euros to 49,990 euros ($54,340) and 55,990 euros, respectively, a discount of 9% and 8.1% compared to the previous prices.
It also cut the price of rear-wheel drive Model Y models by €1,900, or 4.2%, to €42,990, according to data on its website.
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The latest price cut comes after Tesla announced last week that it would halt most of its car production at its factory near Berlin from January 29 to February 11.
The company blamed the suspension on component shortages due to changes in shipping routes due to attacks on vessels in the Red Sea.
Germany’s electric vehicle subsidy program, originally set to run until the end of 2024, ended early last month, a move expected to hit German automakers already struggling to lower prices to match Chinese and American competition.
