Tesla hikes Israel prices for second time this month

Tesla announced this morning that it was putting up prices in Israel for the second time this month. The basic Tesla SR model will now cost NIS 225,000 before extras, almost NIS 40,000 above its launch price in February 2021. The long-range (LR) model will now cost NIS 271,000 before extras, and the price of the performance model has risen to NIS 299,000.

Prices have risen worldwide on Tesla cars manufactured in both China and the US by about $2,000 per car over the past five days. The reason given for the latest price hike is a sharp rise in the cost of raw materials due to the Russian invasion of Ukraine and in particular the rise in the price of nickel from which the car batteries are made. Tesla also cited the increase in energy costs for manufacturing as another reason for the price rise.

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Tesla’s price rises reflect global market changes more swiftly than other cars because the company markets directly to buyers, rather than through dealers and importers.

One Israeli car importer told “Globes this morning, “There is major pressure from the manufacturers to raise prices. We are trying to stop that but it is inevitable.”

Published by Globes, Israel business news – en.globes.co.il – on March 16, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.