Tesla Motors (TSLA) has reduced the price of its Model S electric car in Germany and throughout regions of Europe. The news comes from Inside EVs which reports that now buyers can get a Model S from 65,300 euros ($89,903) in Germany. That compares to 72,000 euros ($99,127) when the world’s first premium electric sedan first launched in Germany in late 2013, about a 7,000 euros ($9,637) cut.
In other locations the prices have been reduced as well, though by not quite as much. In the Netherlands for example, notes the IEVs report, the price for a Tesla Model S was dropped recently by 4,000 euros ($5,507), to 66,200 euros ($91,142).
Officially, the main reason given by the Palo Alto, Calif.-based company for the change is euros’ pace of appreciation against the greenback. While the explanation matches Tesla’s policy of “fairing pricing in all international markets,” Inside EVs notes that weak demand for the Model S in Germany and Europe is believed to be the main reason behind Tesla’s Model S price reduction.
TSLA is down $4.82, or 1.91%, at $248.09 in late trading Friday. The ticker has a 52wk range of $34.92 – $265.00. The company’s total market cap currently stands at $30.51 billion. It’s average 3 month trading volume is around 9.7 million.