Tesla has launched a long list of new discounts and incentives for its electric vehicles in the US as it seeks to capitalize on what will likely be its last strong quarter in its best market.
Since the beginning of the year, we have been reporting on how Tesla’s sales are declining in its largest markets, including Europe and China, with the US being the notable exception.
With the federal tax credit for electric vehicles set to expire by the end of the quarter, the US is also expected to become a challenging market for Tesla and electric vehicles in general.
Many electric automakers are trying to take advantage of the demand being pulled forward into Q3 due to the imminent end of the tax credit.
All New Tesla Vehicles
- $7,500 Lease Incentive (delivery by Sept 30)
- $1,000 Off for American Heroes (military, first responders, teachers, students)
- Free 1-Month Full Self-Driving (Supervised) Trial
- Free Full Self-Driving (Supervised) Transfer from your current Tesla
- Premium Connectivity Trial
- 30 days for Model 3 and Y
- 1 year for Model S, X, and Cybertruck
Model Y
- $7,500 Lease Incentive
- One Free Upgrade on select inventory (pre-discounted)
- $7,500 Federal Tax Credit at Point of Sale (cash/finance only)
- Lease from $349/mo (24-month) or $399/mo (36-month) with $3,000 down
- APR Financing: 3.49% up to 60 months
- 18 Months Free Supercharging (cash purchases only)
Model 3
- $7,500 Lease Incentive
- One Free Upgrade on select inventory (pre-discounted)
- $7,500 Federal Tax Credit at Point of Sale (cash/finance only)
- Lease from $299/mo (24-month) or $349/mo (36-month) with $3,000 down
- 0% APR Financing with FSD (Supervised), 2.49% without
Model X
- $7,500 Federal Tax Credit at Point of Sale
- One Free Upgrade with FSD (Supervised)
- Premium Connectivity Trial (1 year)
Model S
- One Free Upgrade with FSD (Supervised)
- Premium Connectivity Trial (1 year)
Cybertruck
- $7,500 Federal Tax Credit at Point of Sale
- 0% APR Financing with FSD (Supervised)
- Free 20″ Cyber Wheel Upgrade ($3,500 value) on lease orders
- Premium Connectivity Trial (1 year)
Electrek’s Take
It looks like Tesla is now relying less on 0% APR, likely due to the fact that now interest on car payments is deductible up to $10,000.
Tesla needs to drop FSD as a marketing tool, because FSD isn’t a useful sales gimmick anymore.
HW 2.5 wasn’t enough for (unsupervised) FSD, HW3 wasn’t enough for (unsupervised) FSD, and clearly HW4 won’t be either. Yes, Musk has said that those that bought FSD will be taken care of, but there is still no plan in place to take care of those that bought FSD on a HW3 vehicle. I feel bad for those people too, because while HW4 continues to see FSD updates, HW3 owners have been all but forgotten.
Simply put, once the federal tax credit goes away, the biggest incentive to buy an EV will be gone for most consumers that have never driven an EV before. Worse, trying to get them to buy something from a company that is headed up by one of the most hated and despised people in the world is going to be nigh near impossible. Which is why Tesla needs to get rid of Musk. This isn’t like the early days where Tesla was on top of the world. The only way they survive is by getting serious about their future, and that’s going to consist of some major changes.
Though Tesla is still offering 0% financing on the Cybertruck for obvious reasons: it can’t sell them.
That said, it is still offering financing discounts for the Model 3 and Model Y, albeit at a lower rate than before the change.
18 months of free Supercharging on Model Y is also a significant discount, but that’s if you don’t take the financing deal.
It looks like Tesla is going all-out to try to secure as many buyers in Q3 as possible.
