Tesla gives UK buyers two weeks to dodge brexit price increase

[LONDON] Tesla Motors Inc customers in the UK may find their Christmas cash goes a little further than expected after the carmaker postponed a price increase by two weeks.

The US electric-auto manufacturer's plans to raise prices 5 per cent in the UK have been put off until Jan 15 from the original beginning-of-the-year deadline, Tesla said Monday in an e-mailed statement. Vehicles ordered by then and built by mid-April will continue to have free access to the company's Supercharger battery network that's otherwise subject to new fees, it said.

"Due to exceptionally high demand at the end of the year, we've extended the order date by two weeks for customers who were unable to finalize their purchase" by Dec 31, Tesla said.

Tesla is increasing prices in Britain in response to the pound's plunge since the country's referendum in June to leave the European Union. The Palo Alto, California-based manufacturer only gave customers a week's notice of the shift. The Model S, Tesla's most popular vehicle, currently costs £58,900 ($105,319), according to its website, which says drivers save about £6,500 on gasoline and taxes over a five-year period.

UK consumers have been hit by price increases from a number of companies since June's vote. Apple Inc raised the price of some of its laptops by as much as 20 per cent, while supermarket operator Tesco Plc pulled items from its shelves in October due to a Brexit-inspired price dispute with supplier Unilever Plc.

BLOOMBERG