In what is once again becoming a common theme for Tesla, the company has adjusted prices on the Model Y, this time increasing prices in Europe. The price increases come just a few weeks after Tesla lowered prices in Europe, causing confusion amongst potential buyers.
According to an update to the Design Studio on Tuesday, all three variants of the Model Y have seen a fairly substantial price increase in Germany, by as much as €2,500, or about C$3,600/US$2,690. The smallest price increase of €2,000 went to the entry-level Model Y Rear-Wheel Drive (RWD) to now start at €44,990, while the Long Range (LR) and Performance variants both saw €2,500 increases to €49,990 and €58,490 respectively. (h/t: @SawyerMerritt)
There were other price changes elsewhere, like in Norway, the world’s undisputed leader in electric vehicle (EV) adoption, where the Model Y also saw a price increase. The RWD and Performance variants both increased by NOK20,000 (C$2,500), while the LR variants is now priced at NOK499,990, an increase of NOK25,000 (C$3,200). (via @terjeholden)
As we noted, these increases are in contrast to the price cuts Tesla issued across Europe just last month. Today’s price increases in Germany take a big cut out the decreases in January, which saw Model Y prices lowered by as much €5,000 (C$7,300). They also make the entry-level Model 3 cheaper than the entry-level Model Y, which is now €2,000 more expensive than its smaller sibling.
Tesla has also been confusing with its price adjustments in North America. Over the last few weeks Tesla has lowered the price of all three variants of the Model Y in Canada, dropping them by as much as C$4,300. These price drops have had a significant impact on the electric SUVs eligibility for rebates. The LR is now eligible for up to $12,000 in rebates for Quebec residents, while the Performance variant is now eligible for the $5,000 federal rebate for the first time.
Meanwhile, Tesla also lowered the price of the Model Y RWD and LR in the US, but only by $1,000, and only for a limited time. The company appears to be trying out a new pricing strategy, announcing the price cut on its website, adding that prices will increase by $1,000 or more on March 1, 2024.