Tesla is continuing to drop prices in 2023, this time with price reductions as high as 10% across the entire lineup in Europe, adding to the Model 3 and Model Y price drops that happened in January.
Price drops have been reported in Germany, where the Model 3 and Model Y have seen their starting prices lowered by as much as €6,000. The Model 3 Performance went from €60,990 to €54,990, while the RWD and Long Range variants each saw €2,000 (~$2,900 CAD) and €3,000 (~$4,400 CAD) price drops respectively.
With these latest price drops, the Model 3 Performance is now €9,000 (~$13,200 CAD) cheaper than it was at the start of the year.
In Germany the Model S and Model X also saw substantial price adjustments. The Dual Motor and Plaid variants of each vehicle dropped by €10,000 to now start at €102,990 (Model S Dual Motor), €110,990 (Model X Dual Motor), €127,990 (Model S Plaid), and €130,990 (Model X Plaid).
The price adjustments weren’t limited to Germany, with others being reported in Norway, France, the Netherlands, according to price tracking from Twitter user @funwithnumberz. The lone standout is the Model Y Long Range in Norway, which happens to be the most popular EV in the country, which actually saw a small 2% price increase.
The discounts come just one day before it is expected Tesla will be lowering prices in Hong Kong. Earlier this week we told you the Model 3 Performance was going to see the biggest drop drop of 14.7%, while the other Model 3 and Model Y variants will drop anywhere between 8% and 11%.
There has been a lot of speculation among Tesla fans and market watchers, with a divided opinion on whether these successive price drops in many of Tesla’s markets around the world are a good or bad sign for the company. The price cuts at the beginning of the year could have been seen as Tesla trying to move some existing inventory as it produced 34,000 cars more than it sold during Q4 2022. It was also attributed to getting some of their vehicles below the price point to qualify for the $7,500 tax credit in the US.