Tesla announces Model Y price increase coming to Europe

Tesla has announced its latest price increases set to hit one of its vehicles, with the automaker this time planning to increase the price of its economy-level Model Y SUV in multiple European countries.

On Saturday, Tesla said that it will be increasing the price of the Model Y across European countries on Friday, March 22, as stated in a post on X from the company’s Europe and Middle East account. Tesla also said that the price increase would be about €2,000 (~$2,180), or the equivalent in local currencies.

It also comes just weeks after the automaker reverted a temporary price drop to increase the model’s price in the North American market—and just as a similar price increase has been announced in the U.S.

Model Y prices will increase across a number of countries in Europe on Friday, 22nd March

Order within 2 mins via https://t.co/wM14dVxclF to secure current price

— Tesla Europe & Middle East (@teslaeurope) March 16, 2024

In the post, Tesla shares a link to its website, on which the automaker says it only takes two minutes to order a vehicle and will lock in the current Model Y price before the increase. As of writing, Tesla’s most affordable Model Y configuration, the rear-wheel-drive variant, starts at a price of €44,990 (~$49,017) on its order configurator in Germany.

The news arrives as the first quarter of the year comes to a close this month, and following Tesla’s temporary $1,000 discount on the Model Y in North America, which ended earlier this month. Tesla also launched price increases in Germany and Norway in February, applying to all three of the SUV’s configurations.

The Tesla Model Y has been a dominant seller in the European market in the last several months, last year earning the top-selling vehicle spot overall on the continent, and more recently, clinching February’s top-selling vehicle in Germany.

Tesla has also been facing issues at its Gigafactory outside of Berlin, which produces the Model Y for the European market. Earlier this month, activists started a fire at the Grünheide plant, causing a production shutdown that lasted a few days. The Gigafactory regained power and restarted production earlier this week, and the site also gained a visit from CEO Elon Musk, who shared some encouraging words following the attack.

Updated 2:48 p.m. MT: Added Tesla’s U.S. Model Y price cut to the third paragraph.

Tesla Model Y production formally restarts at Giga Berlin-Brandenburg

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