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©Reuters. File Photo: Model Y is pictured at the opening ceremony of the new Tesla Gigafactory for electric vehicles on March 22, 2022 in Grünheide, Germany.Patrick Pull/Poole, Reuters/File Photo
(Reuters) – Tesla said on Saturday it would raise the price of its Model Y electric vehicle (EV) by about 2,000 euros ($2,177) in local currencies on March 22 in many European countries.
The move, announced in a post on social media platform
Tesla (NASDAQ:) increased the prices of its Model Y rear-wheel drive and long-range models by $1,000 on March 1, to $43,990 and $48,990, respectively.
In February, Tesla CEO Elon Musk responded to a post on his company’s “Continuous production is necessary for efficiency, but consumer demand is seasonal.”
Tesla’s margins have been hurt by a price war with rivals that began more than a year ago.
Tesla warned in January that sales growth would be “significantly lower” this year as it focuses on producing its next-generation electric vehicle, codenamed Redwood (NYSE:).
(1 dollar = 0.9185 euro)
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