Tesla has again shaken up Israel's car market by launching the basic version of the Tesla Model Y Electric Crossover at a price of NIS 224,000, almost NIS 50,000 cheaper than the current basic version. The car is equipped with a range of up to 455 kilometers and supply for vehicles orders now is estimated for between July and September.
The Tesla Model Y will cause tough marketing problems for European, Chinese and Japanese manufactured electric vehicles, most of which offer similar specifications but at a price that is tens of thousands of shekels higher. However, it might also lead to a wave of cancellations for the Tesla 3, which currently costs NIS 205,000.
A source at a rival company in the market said that the pricing "is not logical" taking into account that the dollar and euro have strengthened against the shekel since the start of the year. Vehicle industry sources say that car importers will have no choice but to cut prices of rival models.
Tesla ended the first quarter of 2023 with deliveries of just under 1,400 cars in Israel.
Published by Globes, Israel business news - en.globes.co.il - on April 4, 2023.
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