As Tesla Extends Discounts To Europe, Rival Ford Hikes F-150 Lightning Prices For 3rd Time Since Launch

Zinger Key Points
  • Electric vehicle manufacturers are facing the double whammy of production disruptions and slowing demand.
  • Tesla shares come under significant pressure amid reports of slowing demand, especially in its key market of China.

Tesla Inc. TSLA and "wannabe" electric vehicle leader Ford Motor Company F are apparently taking diverging routes with respect to vehicle pricing.

Europe Not Left Behind: Tesla’s listing of its Model 3 or Model Y inventory vehicles shows a discount of up to 4,000 euros ($4,255) in many of the countries in Europe, Drive Tesla reported. Both models offered from existing inventory are sold with a discount of 2,000 euros and this apart there is a tariff readjustment discount that which varies from vehicle to vehicle, the report said.

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The total discount could be over 3,000 euros, it added.

Tesla’s Spanish website lists the Model 3 vehicle with a discount of 4,000 euros, while Model Y vehicles weren’t available in inventory in this country.

Discounted pricing is reportedly available in European countries, including Germany, the Netherlands, U.K. and Switzerland.

Tesla has been aggressive with its pricing strategy in China amid indications of a demand slowdown in the wake of the COVID-19 pandemic. After 5-9% price cuts for Model Y vehicles in late October, the company offered increased insurance incentives in early November. Tesla followed it up with a flat discount for some models of inventory vehicles in early December.

In the U.S., the EV pioneer began offering a limited-period $3,750 credit for Model Y and Model 3 cars made available from its inventory.

Ford Gets Aggressive: Ford, meanwhile, has announced a third price increase for its F-150 Lightning EV truck. The base trim of the truck, namely the Pro, is now shown with a price of $55,974 on the configurator page. This was first spotted by Electrek.

When the vehicle was unveiled, Ford fixed the pricing at $40,000 for the base trim, which was subsequently raised two times ahead of the most recent increase.

The F-150 Lightning Truck was recently named the "2023 MotorTrends Truck Of the Year." While announcing the feat, the company said it plans to ramp up annual sales to 150,000 units by the end of 2023.

In premarket trading on Friday, Tesla shares slipped 0.58% to $156.76 and Ford fell 0.77% to $12.93, according to Benzinga Pro data.

Read next: Cathie Wood Adds Another $1M In Tesla After Elon Musk's Stock Sale

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