A sales page on Tesla Inc’s website showed discounts on Model 3 and Model Y vehicles delivered this month in the U.S. and Canada this month, amid concerns the automaker faces weak demand as the economy slows.
The company will offer a credit of $7,500 in the U.S. and $5,000 in Canada for Model 3 and Model Y vehicles delivered by the end of the year, as well as 10,000 kilometers (6,000 miles) of free supercharging, the page shows.
Tesla has been one of the main beneficiaries of the Biden administration’s Inflated Inflation Act (IRA), which provides rebates of up to $7,500 for the purchase of electric vehicles as part of a law aimed at pushing automakers to reduce their reliance on China.
The latest discounts come days after the U.S. Treasury Department delayed releasing its proposed guidance on the purchases needed for electric vehicle batteries.
Investors worry that Tesla has been facing weak demand. The company said in October it would miss its vehicle delivery target for the year, but played down concerns about demand after its revenue fell short of Wall Street expectations.
Earlier this month, news site Electrek reported that Tesla was offering a $3,750 rebate on December deliveries of Model 3 and Model Y vehicles in the United States.
The U.S. automaker is also offering a 6,000 yuan ($860) discount on some models sold in China until the end of 2022.
First published date: December 22, 2022 at 11:30 AM CST
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