Tesla to raise prices on Model Y electric vehicles in parts of Europe

Tesla Inc. announced on Saturday that it will price its Model Y electric cars on March 22 at around 2,000 euros ($2,177) or the local currency equivalent. The move, announced via X's social media platform, follows the automaker's announcement on Friday that it will increase the price of all US models by $1,000 on April 1.

Earlier on March 1st, Tesla raised the prices of its rear-wheel drive and long-range Model Y cars by $1,000 to $43,990 and $48,990, respectively. "This is the fundamental problem with manufacturing: factories need constant production to be efficient, but seasonal consumption," Tesla CEO Elon Musk said in February in response to a post on his company's X that said prices would rise next month. Is."

Tesla's profit margins have been hurt by a price war with rivals that began more than a year ago. Tesla warned in January of "significantly lower sales growth" this year as it focused on production of its next-generation electric vehicle, codenamed "Rejection."

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