Electric vehicle giant Tesla is implementing a new promotional strategy to drive sales in North America after facing challenges in the recent quarter. As part of an “end of quarter push,” the company is now providing six months of complimentary supercharging for all new Model 3 and Model Y orders scheduled for delivery by the end of this year.
In addition to existing discounts of up to $3,000 on new vehicle inventory, Tesla aims to incentivize prospective buyers further with this offer of free supercharging. Interested customers must purchase and take delivery of a Model 3 or Model Y by December 31, 2023, to avail themselves of the promotion.
While this incentive is a common tactic employed by Tesla during end-of-quarter efforts to stimulate demand, certain restrictions accompany the offer. Notably, Tesla reserves the right to revoke the benefit in cases of “excessive charging,” a condition that adds a layer of discretion to the promotion.
This move follows a challenging quarter for Tesla, marked by financial setbacks as the company fell short of both revenue and earnings expectations. The initiative to offer free supercharging aligns with Tesla’s broader strategy to enhance sales and conclude the year on a positive note.
Earlier in the quarter, Tesla had already taken steps to boost customer interest by reducing lease pricing for the Model 3 and Model Y. Additionally, the company disclosed its anticipation of a 50% reduction in the US federal EV tax credit for the Model 3 by year-end.
While these factors provide compelling reasons for potential buyers to expedite their purchases, the impending arrival of the upgraded Model 3 Highland in North America early next year introduces a contrasting incentive for some consumers. However, it’s worth noting that the Model Y is not slated for a refresh in the near future.
As Tesla navigates these market dynamics, the success of its year-end promotional efforts remains to be seen, with consumers weighing the current incentives against the allure of potential future enhancements to the vehicle lineup.
