Tesla has slashed the prices of its Model Y across Europe this morning, after it reduced prices of its Model 3 and Model Y prices in China to undercut BYD, according to CNBC.
In Germany, Tesla reduced the price of its Model Y Long Range by €5,000 to €49,990 ($54,340), a discount of 9%. It also cut the price of its Model Y Performance by €5,000 to €55,990, an 8% discount. The automaker joined Volkswagen and BYD in reducing prices after the government ended EV incentives, according to Automotive News Europe. But compared to BYD’s drastic 15% cuts, Tesla is taking a more measured approach.
German drivers can also get the Model Y for €42,990 – €1,900 less than the previous price.
The Model Y was Germany’s top-selling BEV in 2023, with some 45,800 new car registrations. However, Tesla lost its No. 1 position as the country’s best-selling BEV brand to Volkswagen. VW reports BEV sales of 70,628 units last year, a 12% increase, compared to Tesla’s 63,685, a 9% drop.
In France, Tesla Model Y prices were cut by up to 6.7%, up to 7.7% in the Netherlands, and up to 7.1% in Norway, CNBC reports.
