The Michael Elkins
Tesla Inc (NASDAQ: ) decided on Friday to cut vehicle prices in Europe, Israel and Singapore, after re-cutting costs in China earlier in January, raising concerns about operating margins.
Tesla dropped the price of the Model 3 in Germany by €2,000, or 4.5%, to €41,990 ($46,462) per vehicle, according to data on its website, with the Model 3 Performance version now coming. sold for 54,990 euros, with a 9.8% discount on the previous price.
Elon Musk’s company then revised the cost of the Model Y Performance by 9.2%, bringing it to 60,990 euros, while the Model Y Rear Wheel Drive and the Long Range will not undergo price changes.
In Singapore, the prices of the Model 3 and Model Y were revised downwards by between 4.3% and 5%, while in Israel, the price of the base rear-wheel drive Model 3 was reduced by 25% after an initial series of global price cuts in January.
In the US, Tesla has cut the price of the base Model 3 by a cumulative 11% since the beginning of the year, with a 20% reduction on the base Model Y.
Original StreetInsider article