Tesla plans to slightly increase the price of Model Y in the North American and European markets. In many European countries, prices are set to rise from the 22nd, with an increase of about 2,000 euros (approximately $2,170 USD). Currently, the starting price for the Model Y RWD (rear-wheel drive) in Germany was 44,990 euros (about $48,830 USD).

In the North American market, Tesla will increase the price of all Model Y trims by $1,000 starting April 1st. Tesla also raised the prices of the Model Y RWD and Long Range trims by $1,000 on the first of this month, to $43,990 and $48,990 respectively.

Tesla has been lowering prices several times over the past year due to intensifying competition in the electric vehicle market, resulting in a significant drop in profit margins. In January, the company warned that its sales growth rate would slow down when providing its business outlook for the year.

Meanwhile, in the domestic market, the government subsidy for the Tesla Model Y RWD is limited to 1.95 million won (approximately $1,460 USD). In response, Tesla is reportedly planning to open a service center in Wonju, Gangwon Province. As of the 14th, Tesla was operating a total of 12 service centers: three in Seoul, three in Gyeonggi Province, and one each in Sejong, Daegu, Gwangju, Busan, and Jeju.

The Ministry of Environment's 2024 electric vehicle subsidy reform plan states that manufacturers with service centers in all eight regions will receive a post-management coefficient of 1.0 when calculating subsidies. If this coefficient value decreases, the subsidy amount will be reduced accordingly. As a result, the Tesla Model Y RWD received a lower national subsidy of 1.95 million won (approximately $1,460 USD) because it did not meet the requirements in terms of combined driving range of 350 km (217 miles) and service center establishment.

While preparing for the Wonju service center, Tesla is also getting ready to launch new Model 3 and Model Y vehicles. Both models are produced at Tesla's Gigafactory in Shanghai, China. The domestically certified combined driving range at room temperature for the Tesla Model Y Long Range, produced at the Shanghai Gigafactory and certified on the 14th, is 432 km (268 miles).

The domestically certified combined driving range at room temperature for the Tesla Model 3 Long Range, certified in January, is 488 km (303 miles). Notably, the delivery of the Tesla Model 3 Highland product in South Korea has also garnered attention.

​