Tesla Is Getting Aggressive With Deals and Incentives
Facing several periods of falling sales, Tesla is pulling out all the stops to drive interest in its electric vehicles. The automaker is offering deals on every vehicle it sells, including hefty price cuts and other incentives.
Every Tesla delivered by September 30 comes with a $7,500 lease incentive, and the automaker is offering a one-month trial of its Full Self-Driving (Supervised) driver-assist technology. Lessees also get a trial of Tesla’s Premium Connectivity system, with a 30-day trial for the Model 3 and Y, and a one-year trial for the Model S, X, and Cybertruck.
Cybertruck buyers also get a free upgrade to 20-inch wheels with all-terrain tires, and people interested in a Model 3 can get a year and a half of free Supercharging if they pay cash. Tesla’s also offering a zero-percent finance deal for the Model 3 and Cybertruck, and the Model Y is available with cut-rate financing.
There may be plenty of negative noise about Tesla online, but in the real world, pricing makes a big difference in many people’s willingness and ability to buy a car. The $7,500 federal EV tax credit is going away at the end of September, which could compound Tesla’s problems, so it’s not surprising to see it scrambling. That said, the automaker remains a heavyweight in the American EV market, selling almost half of the electric vehicles here.
[Images: Tesla]
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Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.
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Every time Tesla cuts prices or incentivizes its new cars, the value of used Teslas drops further. Yet another way they pummel their loyal customers: accelerated depreciation.
Now add in the cycle of over-the-air updates. Anecdotally, these updates clear some old issues while creating brand new ones. Lather, rinse, repeat.
Want to get a new battery for your pristine condition ten year-old Tesla? Good luck with that. The cost will be around the resale value of the car. And who has $17k burning a hole in their pocket to spend on a new battery? Go to your credit union for a loan? Psht. The car is a scrapper.
Some of this stuff is Tesla specific, some of it is for EVs in general.
Elon seems focused on revenge against President Trump, his neurolink brain implant project and space trips to Mars. He is decidedly not focused on Tesla and that's not a good thing.