A 5,000 dollars CAD or 74,750 dollars MXN credit is now available from Tesla for Model 3 and Model Y purchases made in Canada and Mexico before the end of 2022. This is a rare instance of Tesla offering discounts and may indicate a decrease in demand across North America. The move comes shortly after Tesla raised the year-end discount in the neighboring United States to 7,500 dollars.
The middle car costs 59,990 dollars CAD, which is the same as the price of a car that is made to order and has the same features as the base model. Therefore, in addition to the website-listed pricing, inventory vehicles will receive a discount of 5,000 dollar CAD. However, the precise method by which that credit will be applied is unknown, and people will need to inquire about the specifics with the Tesla salesperson.
The discounts for Mexico, Canada, and the United States on Wednesday are nearly identical. Both amounts approximate 3,750 dollars, which Tesla increased the US discount by. This discount was mostly seen as a response to changing tax incentives for electric vehicles in the United States. Due to the Inflation Reduction Act, it was anticipated that Tesla vehicles would be eligible for 3,750 dollars in EV tax credits the following year.
However, the Treasury said on Monday that they would delay implementing new regulations. As a result, Tesla will not be eligible for 7,500 dollars in tax credits until at least March. Hence, if Tesla wants to sell cars now, it makes sense to offer a temporary discount because buyers may delay purchasing for a few weeks in order to receive new tax credits.
However, the discount in Canada and Mexico cannot be linked to similar changes to the tax credit that will take effect at the beginning of the year. As a result, this could be a sign that Tesla needs to entice buyers with a rare carrot in order to stoke interest with fewer orders than usual during the holiday season.
Tesla frequently makes delivery pushes at the end of the quarter and at the end of the year, shifting employee focus to delivering cars for the last few weeks of a quarter to finish strong with high numbers. The company has said for years that they would like to stop doing delivery pushes at the end of each quarter. However, that effort never really happened, and the company still does this almost every quarter.
In 2021, the price of Tesla vehicles has gone up several times, probably as a result of higher costs in the supply chain and overall rising demand for electric vehicles. Numerous EVs have seen their prices rise as a result of a lack of supply and demand.
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