July 25, 2024

Taylor Daily Press

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Tesla offers discounts on certain car models in the US and Canada

Tesla offers discounts on certain car models in the US and Canada

The company is offering a $7,500 credit in the United States and a $5,000 credit in Canada for Model 3 and Model Y vehicles through the end of the year, as well as free supercharging up to 10,000 km (6,000 miles).

Tesla is one of the main beneficiaries of the Biden administration’s Inflation Reduction Act (IRA), which offers up to $7,500 off EV purchases as part of a bill designed to encourage automakers to reduce their reliance on China.

The latest cut comes days after the U.S. Treasury Department delayed releasing its proposal for guidance on required purchases of electric vehicle batteries.

Investors are worried about Tesla’s declining demand. The company said in October it would miss its auto supply target this year, but downplayed demand concerns as sales fell short of Wall Street estimates.

Earlier this month, news website Electrek reported that Tesla offered $3,750 off Model 3 and Model Y vehicles delivered in December in the US.

The American automaker has offered a 6,000 yuan ($860) discount on certain models in China through the end of 2022.

($1 = 6.9761 yuan)

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