Tesla Raises U.K. Prices After Brexit Vote
One of the world's most devoted gearhead clubs is about to get a little pricier in the U.K. as a result of the country's vote to leave the European Union.
Tesla Motors will increase prices in the U.K. by 5% in 2017, a move attributed to the falling pound and described as "due to currency fluctuations," a company spokeswoman said.
Sterling's fall of more than 15% since the Brexit vote has led to price increases on imported goods, as well as on products made domestically using components or ingredients sourced overseas. In October, consumers had an early warning of the prospects for 2017 when retailer Tesco stopped online sales of Marmite and other British products during a dispute with manufacturer Unilever.
A Tesla store manager in Edinburgh, Scotland, emailed customers with more details about the new price structure: The price for custom orders will go up, though showroom and pre-owned cars won't be affected, the email said.
Prospective customer Sam Cornwell, 36, says he'll now probably have to pay £1,500 more than he expected for his Tesla Model 3 when it comes out. He put down a £1,000 deposit for the car when it was unveiled last spring, one of more than 325,000 people around the world who rushed at the chance to own a brand new Tesla.
The added cost will hardly deter him from completing the purchase, he said.
"Do you know many Tesla fans?" said Cornwell, a photographic artist who lives in Hawick, Scotland. "There's nothing that could put me off the vision of Elon Musk."
Cornwell, who didn't support Brexit, said he doesn't blame Tesla for the price increase. And it's not a surprise, following similar moves by Apple and other companies. When Apple raised U.K. prices without warning, Cornwell got lucky: He bought a new computer just before they got more expensive.