Tesla Offers $7,500 Discount on Model 3, Model Y (But There’s a Catch)
In a rare move for the automaker, Tesla is offering shoppers a substantial discount on its two bestselling EVs, the Model 3 sedan and Model Y SUV — but there’s a big caveat. According to a message on Tesla’s website, shoppers who take delivery of the Model 3 and Model Y by Dec. 31 qualify for a $7,500 credit and 10,000 miles of free Supercharging. While there’s no credit for the Model S and Model X, both vehicles do qualify for the free charging offer.
Related: Almost Every Tesla Is More Expensive Now
A Sign of Slowing Sales?
Tesla isn’t known to offer discounts on its vehicles; rather, the automaker has implemented a series of price increases since 2021, which it attributed to supply chain disruptions. But the newly available offer doubles the $3,750 discount offered by the automaker earlier in December and is likely motivated by slowing demand and a delay in the EV tax credit overhaul planned for 2023. In a recent announcement, the Treasury Department said the new EV tax credit guidance will be delayed until March, according to Automotive News. The change means Tesla shoppers might qualify for the full $7,500 EV tax credit starting in January; according to a Reuters report, many customers have canceled or delayed their orders until the tax credit goes into effect.
More Availability
In another unusual development, Tesla’s website now shows available inventory via a Buy Now button, whereas shoppers were previously required to build and order a vehicle, then wait — sometimes for months — to take delivery. When Cars.com bought a 2021 Tesla Model Y as our long-term test vehicle, the order was placed in late July and delivery was taken in early November. Now, it appears shoppers can find and order a Tesla without the lengthy wait.
It’s unclear if Tesla will extend any discounts into 2023 or how the EV tax credit will look in the coming year, but with increasing competition and the automaker expecting to fall short of its 2022 delivery targets, it appears the race to increase orders before the calendar flips has begun.
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