The end of the year brings a wind of change for Tesla buyers, which not only do not have to wait for new cars as long as before but even can get some incentives.
In the US, customers who buy a new Model 3 or Model Y and take delivery by the end of December 2022 can get a $3,750 discount. The promotion does not include Model S and Model X.
According to Electrek, Tesla customers report that the company tries to boost EV sales before the end of the year by adding also up to 10,000 free Supercharging miles to all of its models. A similar incentive reportedly is applied also in some of the other markets (up to 10,000 miles or 10,000 km, depending on the country).
There are some additional requirements to get the incentive, according to the article:
- Valid for new titled vehicles only
- Free Supercharging miles/km must be used within two years of the delivery date
- Free Supercharging is non-transferable
- Stackable with other incentives/adjustments unless stated
The value of the free Supercharging package depends on the electricity prices/energy consumption, but in general, it might be worth several hundred dollars.
As far as the US is considered, the recent Tesla moves indicate that the company might now have a higher supply than demand. We guess that this is a temporary effect of the Inflation Reduction Act (IRA), which brings back Tesla’s eligibility for the $7,500 federal tax credit on January 1, 2023 – after several years since the company lost access to the incentive.
That’s because the customers who delay the purchase might get a new Tesla car for effectively $7,500 cheaper (assuming that the prices do not change). Meanwhile, it slows Tesla’s Q4 sales, while the company would like to deliver a strong quarterly result.
The situation should become much clearer in early 2023. We will see how the eligibility of the $7,500 federal tax credit will change demand for the Model 3/Model Y and whether Tesla will change its prices. The manufacturing output is increasing in the US, so the incentive might be very important for the company in 2023.