Posted on 19 Jun 2024
Tesla announced it plans to raise its Model 3 prices made in China and sold in European countries as a result of increased tariffs announced by the European Union, Kallanish reports.
According to the carmaker’s German website, prices will increase in July 2024, though details on the new prices are yet to be confirmed.
Tesla China confirmed the news and added that the prices of Model Y cars will not change as they are produced at the factory in Berlin, Germany.
So far, it is the first and only automaker to announce a price increase after the EU’s plan to increase tariffs on China-made BEVs. Yet, the US carmaker is expected to face an average tariff rate of 21%, which is lower than other carmakers, particularly Chinese companies. The EU said Tesla might get an independent tariff rate and the parties are collaborating on calculations.
The Model 3 cars are manufactured at Tesla’s Shanghai Gigafactory and then shipped to Europe.
In China, the Model 3 currently starts at CNY 231,900 ($31,959), with the most expensive version reaching CNY 335,900. The car costs at least $10,000 more in Europe than in China.
Source:Kallanish
