Tesla Announces Model Y Price Hikes in U.S. and Europe

Tesla announced it will raise the prices of its Model Y electric vehicles in several European countries by approximately 2,000 euros on March 22, following a similar price increase for all Model Y cars in the U.S. by $1,000 on April 1. CEO Elon Musk cited the challenge of balancing continuous production with seasonal consumer demand, while the company's margins have been impacted by a price war with rivals. Tesla previously warned of lower sales growth this year as it focuses on the production of its next-generation EV.