Shares of automaker Tesla Inc fell more than 2% before the market opened. Overnight, the company decided to cut prices of the Model Y in Europe.
In Germany, Tesla reduced the price of the Model Y by between 4.2% and 9.1%. The Model Y Standard Range+ was reduced by €1,900 to €42,900. The Model Y's Long Range and Performance variants were lowered by €5,000, to €49,900 and €55,990, respectively. In France, Tesla Model Y prices were reduced by 5.7% to 6.7%, 4.3% to 7.7% in the Netherlands, and 5.6% to 7.1% in Norway.
Tesla decreased 2.22% in premarket in New York at 4:12 am ET.