Tesla Inc is slashing prices and offering discounts on Model 3 and Model Y vehicles that are to be delivered to the United States and Canada this month, according to sales pages on the company's website on Wednesday, amid concerns that demand will soften as economies slow.
According to the pages, the company is offering a $7,500 credit in the United States and a $5,000 credit in Canada on Model 3 and Model Y vehicles delivered before the end of the year, as well as free supercharging for 10,000 km (6,000 miles).
Tesla has been a major beneficiary of the Biden administration's Inflation Reduction Act (IRA), which provides rebates of up to $7,500 on EV purchases as part of a law designed to encourage automakers to reduce their reliance on China.
The latest price cut comes just days after the US Treasury Department postponed the release of proposed guidance on the required sourcing of electric vehicle batteries.
Investors are concerned about Tesla's declining demand. The company announced in October that it would miss its vehicle delivery target for this year, but downplayed concerns about demand after revenue fell short of Wall Street expectations.
Electrek reported earlier this month that Tesla had offered a $3,750 discount on Model 3 and Model Y vehicles delivered in the United States in December.
The American automaker has also offered a 6,000 yuan ($860) discount on certain models in China until the end of 2022.
(Source:www.economictimes.com)
According to the pages, the company is offering a $7,500 credit in the United States and a $5,000 credit in Canada on Model 3 and Model Y vehicles delivered before the end of the year, as well as free supercharging for 10,000 km (6,000 miles).
Tesla has been a major beneficiary of the Biden administration's Inflation Reduction Act (IRA), which provides rebates of up to $7,500 on EV purchases as part of a law designed to encourage automakers to reduce their reliance on China.
The latest price cut comes just days after the US Treasury Department postponed the release of proposed guidance on the required sourcing of electric vehicle batteries.
Investors are concerned about Tesla's declining demand. The company announced in October that it would miss its vehicle delivery target for this year, but downplayed concerns about demand after revenue fell short of Wall Street expectations.
Electrek reported earlier this month that Tesla had offered a $3,750 discount on Model 3 and Model Y vehicles delivered in the United States in December.
The American automaker has also offered a 6,000 yuan ($860) discount on certain models in China until the end of 2022.
(Source:www.economictimes.com)
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