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Tesla cuts prices on some models in the US and Canada


Tesla Inc is offering discounts on Model 3 and Model Y vehicles delivered in the United States and Canada this month, sales pages on its website showed on Wednesday, amid concerns over the automaker. are facing falling demand as economies slow down.

Via:
Reuters

|
Update on:
11:30 am on December 22, 2022

The Model 3 is Tesla's best-selling vehicle in markets around the world.  (AP)
The Model 3 is Tesla’s best-selling vehicle in markets around the world. (AP)

The company is offering a $7,500 credit in the United States and a $5,000 credit in Canada for Model 3 and Model Y vehicles delivered before the end of the year, and free supercharges for 10,000 kilometers (6,000 miles). ), the pages said.

Tesla is one of the main beneficiaries of the Biden administration’s Inflation Reduction Act (IRA), which offers discounts of up to $7,500 on electric vehicle purchases as part of legislation aimed at boosting auto manufacturers reduce dependence on China.

The latest drop in prices comes just days after the US Treasury Department delayed the release of proposed guidance on the sourcing of needed electric vehicle batteries.

Investors are worried Tesla is facing weakening demand. In October, the company said it would miss its goal of delivering vehicles this year, but downplayed demand concerns after its revenue fell short of Wall Street estimates.

Earlier this month, news website Electrek reported that Tesla had slashed prices by $3,750 for Model 3 and Model Y vehicles delivered in the United States in December.

The American automaker has also cut prices by 6,000 yuan ($860) on some models in China through 2022.

Date of first publication: December 22, 2022, 11:30 a.m. IST

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