WASHINGTON (dpa-AFX) - Tesla, Inc. (TSLA) has recently reduced prices for its Model Y cars in several European countries including Germany, France, Norway, and the Netherlands.
The company cut prices for the Model Y rear-wheel drive and Model Y long-range models in Germany by 4.2% and 8.1%, respectively.
In France, the prices were reduced by up to 6.7%, while in the Netherlands and Norway, the prices were lowered by up to 7.7% and 7.1%, respectively.
No specific reasons were given for the price cuts, but it is believed that the slow demand for electric vehicles, coupled with reduced state subsidies and higher borrowing costs, may have influenced the decision.
Additionally, Tesla has announced that it will halt most of its electric vehicle production at its Berlin factory from January 29 to February 11 due to a lack of components caused by disruptions in the Red Sea after the Iran-backed Houthis group launched attacks on ships traversing the key route.
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