Tesla raises prices for Model Y electric vehicle in parts of Europe By Reuters

© Reuters. FILE PHOTO: Model Y car pictured at the opening of the new Tesla Gigafactory for electric vehicles in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photo

(Reuters) – Tesla said on Saturday it will increase the price of its Model Y electric vehicle (EV) by about 2,000 euros ($2,177), or the equivalent in local currency, in several European countries starting March 22.

The move, announced through a post on social media platform

Tesla (NASDAQ:) on March 1 raised the prices of its Model Y rear-wheel drive and long-range vehicles by $1,000, to $43,990 and $48,990, respectively.

Tesla CEO Elon Musk responded to a post in February announcing that his company “It is,” he said.

Tesla’s margins have been hurt by a price war with rivals that began more than a year ago.

In January, Tesla warned that sales growth would be “notably lower” this year as it focused on producing its next-generation EV, code-named “Redwood (NYSE:).”

(1 dollar = 0.9185 euros)