If you were hoping to buy a Tesla but had reservations about the price or the impact of upcoming EV tax credit changes, the automaker wants you to rethink that hesitation. Buyers that take delivery of a Model 3 or Model Y before the end of the year get a $7,500 discount and 10,000 miles of free Supercharging.
Tesla has raised the prices of its vehicles multiple times over the last two years, so a discount is a late but welcome reprieve from recent trends. It’s worth noting that the discount does not entirely make up for the increases, as the Model 3 is still more expensive than it was in early 2021 after $7,500 is applied.
Tesla’s website makes it extremely difficult to find the configuration tool, which allows buyers to select colors and specific options, as the company is offering its existing inventory to draw in buyers. It’s still possible to find the configuration tool, and delivery dates have been shortened to the end of the year for many models, but it’s clear Tesla wants to liquidate the cars it has sitting around.
Model S and Model X buyers don’t get a discount. Still, Tesla offers 10,000 miles of free Supercharging as an incentive – something it initially offered as an incentive for people worried about taking long trips in an EV. Tesla has offered free limited and unlimited Supercharging at different points over the last few years.
The Treasury Department has delayed guidance on changes to the EV tax credits that revolve around raw materials sourcing until March. That could mean some models are eligible for a more significant credit than they otherwise would, at least until the government gets its act together. For Tesla buyers, the ability to get a $7,500 credit in January is a strong incentive to wait, so there’s good reason for a late-year promotion.
Tesla’s stock has fallen dramatically recently as investors grapple with the changing economy, the CEO’s behavior, and the fact that the company has likely been overpriced for a long time. The automaker is still first in EV sales by a large margin, but auto giants like Ford and Hyundai have made significant headway with new electric models. With the Tesla discount where it is in late 2022, the automaker may increase its lead soon.