Tesla slashes Irish prices for its cars

As part of a global effort to lower the price of its cars, electric vehicle manufacturer Tesla has drastically reduced its prices in the Irish market.

The move aims to bolster demand as Tesla faces falling sales amid recession fears and heightened competition, some analysts and investors said.

The price reductions are sufficient, according to Tesla, to ensure that the extremely popular Model 3 saloon and Model Y SUV “now qualify for the SEAI plug-in grant worth up to an additional €5,000.”

Prices for a standard Model 3 with a range of 491 kilometers start at €44,990, and the long-range four-wheel drive Model 3 now has a starting price of €52,990, both including the SEAI grant. Starting at €59,990, the extremely quick Model 3 Performance can accelerate from 0 to 100 km/h in just 3.3 seconds.

The price for the Model Y’s base model with a single motor and a 455-kilometer range now starts at €46,990. The high-performance Model Y starts at €63,990, while the long-range, four-wheel-drive Model Y costs €53,890 right now. It can travel up to 533 kilometres on a single charge.

CEO Elon Musk, who acquired Twitter in late October, has drawn scrutiny over his apparent focus on the social media platform.

“It’s no secret that demand for Tesla is starting to see some cracks in this global slowdown for 2023,” Dan Ives, a longtime Tesla bull and managing director of equity research at Wedbush, said in a research note on Friday.

“We believe this was the right strategic poker move by Musk & Co. at the right time,” he added.

Tesla did not immediately respond to a request for comment.

%d bloggers like this: