After making quite a show of doing so, Tesla slashed the price of its Model S in the North American region. Not long after doing so, however, it would seem that Tesla has gone and quietly hiked up its prices for the Model 3 in Europe, according to a Reddit thread posted by /u/avirbd.
The original thread noted a €490 ($572 USD; $760 CAD) price increase in both the Long Range and Performance variants of the Model 3 in Germany, with the Standard Plus variant’s price remaining unchanged.
Soon after the thread was posted, Reddit users and Tesla enthusiasts from all over Europe chimed in with price increases in their respective countries. Apparently, the prices of Model 3 variants in a number of European countries went up overnight on Thursday, Oct. 29.
An Austrian Reddit user reported a price increase of €990 ($1156 USD; $1,541 CAD) for the Model 3 LR, and €700 ($817 USD; $1,090 CAD) for the Model 3 Performance.
The prices of all Model 3 variants (including the SR+) has reportedly gone up by 10,000 SEK (€1,000; $1167 USD; $1,500 CAD) in Switzerland.
In Denmark, the Model 3 SR+ is now DKK 10,000 (€1,343; $1568 USD; $2,084 CAD) more expensive, and the prices of the LR and Performance models has increased by DKK 13,000 (€1,746; $2038 USD; $2,710 CAD).
The SR+ variants exclusively have gone up by €400 ($467 USD; $622 CAD) and €690 ($805 USD; $1,074 CAD) in France and Belgium respectively.
If we consider the standard laws of supply and demand, an increase in price would point towards decreased supply. Could the price hike be related to the fact that Tesla is now exporting Model 3 units made in China to European markets, or could other factors be at play?
In Switzerland, the prices for all Model 3 variants went up by the same exact amount (10,000 SEK, €1,000, $1167 USD or $1,500 CAD) as the monetary value of an increase in EV incentives recently announced by the government.
Nehal has a passion for everything tech — from electric vehicles to the latest smartphones, and everything in between, including coffee (click here to buy me a coffee!). Click here to get 1,000 Tesla Supercharger miles free with your next Tesla purchase.