"Tesla Slashes Model Y Prices in Europe Following China's Lead"

Tesla has reduced the prices of its Model Y in several European countries following similar cuts in China, with reductions ranging from 4.2% to 9.1% in Germany, 5.7% to 6.7% in France, 4.3% to 7.7% in the Netherlands, and 5.6% to 7.1% in Norway. The move comes amid a buildup of Model Y inventory in Europe and concerns about declining profit margins. Tesla's stock rose after the price cuts, while Chinese EV makers Li Auto and Nio announced discounts for 2023 models ahead of 2024 facelifts.