Investing
Tesla doubles discounts on Model 3 cars in US inventory
© Reuters. FILE PHOTO: Tesla Model 3 vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. REUTERS/Carlos Barria
By Hyunjoo Jin
SAN FRANCISCO (Reuters) – Tesla (NASDAQ:) Inc has doubled discounts on some already made new Model 3 electric cars and offered discounts on the Model Y and others in its U.S. inventory to entice buyers amid economic uncertainty, rising competition and the upcoming redesign of its mainstay model.
In California, a Model 3 variant in inventory was priced at $42,060, a discount of $2,680 to the price of newly ordered cars, according to its website. That is double the $1,300 discount on Model 3 cars offered less than two weeks ago.
Tesla also resumed discounts on some Model Ys of nearly $600 off each. Tesla offered steeper discounts of $6,330 and $5,000 on some higher-priced Model X and Model S vehicles, respectively.
Facing economic headwinds, mounting competition and rising production, Tesla this year has aggressively cut vehicle prices in many countries and is resorting to the traditional automakers’ tactic of offering incentives to clear inventory, analysts said.
Tesla is preparing to launch a revamped version of its Model 3 in the United States this year and has started shipping some of its Model Ys with new hardware for its Autopilot partially automated driving system.
Tesla CEO Elon Musk told shareholders this month that the company would try advertising for the first time, in a move seen by analysts to drum up demand. Musk also warned Tesla was not immune to the global economy, which he said will be difficult for the next 12 months.
Read the full article here
-
Side Hustles5 days ago
United Airlines Adding Starlink, Free WiFi to All Flights
-
Passive Income4 days ago
Reduce Your Business Expenses With This $30 Microsoft Office Alternative
-
Side Hustles6 days ago
There’s a Burnout Crisis in American Workplaces — and This Is the Solution
-
Passive Income6 days ago
Correct Your Spelling Errors on PDFs With This All-in-One PDF Tool
-
Personal Finance5 days ago
Inflation hits 2.5% in August, keeping the Fed on track to lower interest rates
-
Passive Income3 days ago
Sam’s Club Membership Went Down to Just $15 for a Year
-
Side Hustles4 days ago
How to Create and Maintain a Positive and Respectful Work Environment
-
Investing5 days ago
Professionals Can Securely Organize Their Files With This Cloud Storage Solution