[Alpha Biz=(Chicago) Reporter Kim Jisun] Electric car maker Tesla will raise the price of its flagship Model Y in North America and Europe slightly.

According to Yonhap News on the 18th, Tesla said in its X (old Twitter) account for European consumers on the 16th (local time), "The price of Model Y will rise in many European countries from the 22nd." The price increase is about 2,000 euros (about 2.9 million won), the company added.

According to Tesla, the starting price of the cheapest rear-wheel drive product in Germany is 44,990 euros (about 65.25 million won). Tesla said the previous day that it will raise the price of all trims of Model Y in North America by $ 1,000 (about 1.33 million won) from April 1.

Tesla's profit margin fell sharply as it lowered prices several times since a year ago due to intensifying competition in the electric vehicle market. Tesla shares fell 34% on the New York Stock Exchange until the day before this year.

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