Tesla (TSLA) has lowered prices of its Model Y cars in Germany, according to media reports on Wednesday.
Prices of Model Y Long Range and Model Y Performance were slashed by 5,000 euros to 49,990 euros ($54,309) and 55,990 euros, respectively, the reports said. Model Y rear-wheel drive models were also reduced by 1,900 euros to 42,990 euros.
The cuts came a week after the EV made similar cuts to Model 3 and Model Y vehicles last week.
Tesla did not immediately respond to MT Newswires’ request for comment.
Tesla reportedly posted a 9% decline in new registrations to 63,685 vehicles in Germany last year, Reuters reported, citing German government figures. The US EV maker lost its rank as top EV seller Germany to Volkswagen, which now has a market share of nearly 14% against Tesla’s 12%.
Shares of the company were down 2.2% in recent premarket activity.