Tesla Model Y is the eighth most expensive in the world in the Czech Republic

Tesla’s Model Y is a global hit and is well on its way to being among the five best-selling models in the world this year. In the first nine months, more than half a million were sold worldwide. But there is one catch, the price varies by up to two times depending on the country where you buy the car, Bloomberg reported. And from the ranking compiled by Bloomberg, the Czechia is not at all flattering – the Tesla Y is the eighth most expensive in the world in the country, while it is the second cheapest among Slovakian neighbors after China.

Bloomberg compiled a ranking of countries according to the price of the Model Y, Tesla’s most popular model and at the same time the best-selling electric car today. The agency compared list prices excluding any fees that are available on the official Tesla website for each country and region.

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The value of the property of the American entrepreneur and head of the Tesla car company Elon Musk has decreased by more than 100 billion dollars (roughly 2.4 trillion crowns) since the beginning of this year. The fall in Tesla’s stock price to a two-year low is primarily to blame, Bloomberg reported. According to its index of billionaires, during Monday, the value of Musk’s property decreased by 8.6 billion to 169.8 billion dollars (roughly four trillion crowns).

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The cheapest place in the world to buy a Model Y is mainland China. After a price cut last month, the Model Y starts at $40,411, which is slightly more than half the price in its home US. Bloomberg reported. The most expensive place in the world to get a Tesla is Singapore at $103,128 (about 2.42 million crowns) – and that’s before consumption tax and registration fees.

In the Czech Republic, the basic Model Y will cost 1.58 million crowns, i.e. the most expensive of the Central and Eastern European countries. In Slovakia, then to 1.04 million, just like in the Baltic countries.

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Price of Tesla Model Y in the world (in dollars):

Earth cena Earth cena Earth cena
1. Singapore 103 128 15. Hungary 62 420 29. Portugal 52 708
2. Israel 100 748 16. V. Britain 61 879 30.-32. Belgium 52 703
3. Mexico 81 295 17. SAE 60 896 30.-32. Spain 52 703
4. Hongkong 73 958 18. Austria 60 148 30.-32. Luxembourg 52 703
5. Tchaj-wan 73 755 19. Germany 59 114 33. Australia* 51 093
6. South Korea 71 475 20. Switzerland 58 920 34. Francie 49 617
7. Sweden 68 191 21. Slovenia 58 901 35. Macao 49 509
8. CR 67 273 22. Island 57 937 36. N. Zealand 48 393
9. USA* 65 990 23. Romania 57 888 37. Japan 46 300
10. You have 65 054 24. Greece 56 833 38.-41. Estonia 44 323
11. Croatia 62 695 25. Norway 54 813 38.-41. Lithuania 44 323
12. Finland 62 644 26. Ireland 54 773 38.-41. Latvia 44 323
13. Denmark 62 566 27. The Netherlands 52 729 38.-41. Slovakia 44 323
14. Poland 62 555 28. Italy 52 712 42. China 40 411

* average for individual federal states
Note: Data as of November 23, 2022
source: Tesla.com, Bloomberg

Cars are generally more expensive in places like Singapore and Israel due to higher taxes, duties and registration fees compared to China and Europe,” said Seth Goldstein, equity strategist at Morningstar Research Services. Supply and demand, as well as the level of competition in a country’s market, also affect the price.

Car included in the price of the apartment

The Model Y costs Singapore the same as a smaller apartment. Cars in the city-state are expensive because there are only a limited number of ownership permits that the city-state issues to control traffic growth on the small island. These permits are offered at auctions twice a month and allow the driver to own the car for 10 years. In the case of Tesla, allowances rose to a record 116,577 Hong Kong dollars (about 85,000 US dollars) in November – almost as much as the Model Y itself.

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A completely different story is unfolding in China – on the world’s largest and therefore fiercely competitive electric car market. A group of local rivals ranging from legacy automakers like BYD to upstarts like Nio are quickly closing in on Tesla with new model launches and promotions. According to the China Automobile Association, domestic automakers accounted for nearly 80 percent of electric car sales in the first seven months of 2022.

According to Morningstar’s Goldstein, there could be further price cuts for Tesla’s other key markets, including the US and Europe. “If we see an economic slowdown in 2023, we could see a drop in commodity prices, so input costs would come down,” he said. “If that happens, I would expect Tesla and other automakers to cut prices again, boosting demand,” he means.

The largest Chinese car manufacturer Geely will enter the Czech market in January 2023 with the Geometry C model.

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According to Goldstein, Musk himself hinted at this possibility already in the middle of this year. The reason is the expansion of new factories in Austin, Texas, and near Berlin, with the goal of making the Model Y the best-selling car in the world – as Musk himself boldly announced last year.

Electric car, illustration photo

Sales of e-cars in the Czech Republic are growing. There are already almost 14,000 of them in operation

Sales of passenger electric cars in the Czech Republic increased by 89 percent year-on-year to 3,887 in the three quarters of this year. Roughly three-quarters of them were new vehicles, the rest were used. The share of sales of new passenger electric cars in the registrations of all passenger cars in the Czech Republic was two percent, which ranks the Czech Republic in second last place in the EU. The last one is Slovakia. This was reported by the Transport Research Center (CDV).

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All about inflation

Inflation scarecrow. What causes it? How to defend against her? How to invest, where to save savings, where there are decent interest rates, which bonds are worth it? How do the state, the government and the CNB fight inflation? Who and why increases the price and how much? How to cope with price increases? Is it the right time to get a mortgage, will interest rates rise or fall, and for what reason? Context, tips, hints, warnings.

High inflation troubles not only the Czechia, but also other European countries and the United States. See the overview in the world.

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