Summary
- Tesla is offering 0% APR financing on new Model 3 and Model Y purchases until December 15, 2024
- Customers can also get a $1,000 discount by using an existing Tesla owner’s referral code
- Tesla is providing 3 months of free Supercharging and Full Self Driving with purchases completed by December 31, 2024
- There is speculation that the $7,500 US EV tax credit may be eliminated, making December the last opportunity to save on Tesla purchases
- Tesla expects to see growth in worldwide sales in 2025, but US demand may decline without the EV tax credit
Article
Tesla is offering a last chance to receive 0% APR financing on a new Model 3 or Model Y if ordered by December 15, 2024. This promotion is targeted at well-qualified buyers with excellent credit and requires delivery by December 31, 2024. In addition to the financing offer, Tesla is also providing a $1,000 discount on Model 3 or Model Y when using an existing Tesla owner’s referral code. The company is further incentivizing purchases with 3 months of free Supercharging and 3 months of free Full Self Driving (FSD) for purchases completed by the end of 2024.
The biggest incentive for buying a Tesla this month may be the $7,500 US EV tax credit/rebate, which is expected to be eliminated by Donald Trump and Republicans in Congress. If this tax credit is abolished, it will likely be the last opportunity to receive such a significant discount on a Tesla Model 3 or Model Y. Tesla is not in a position to drop prices by $7,500 to compensate for the potential loss of the tax credit. With existing incentives already stretched, the company’s sales push in 2024 is aimed at maximizing sales before potential changes to the EV tax credit.
Despite Tesla’s efforts to boost sales in 2024, it is expected that US demand for Tesla vehicles will decline in 2025 without the EV tax credit. While the company anticipates 20-30% growth worldwide in 2025 driven by increased Cybertruck production and sales, the absence of the tax credit in the US market could impact sales negatively. Tesla may struggle to match 2024 sales figures without the tax credit, particularly in the absence of significant price reductions. The impact of the potential tax credit elimination on other markets, such as China and Europe, remains to be seen.
Tesla’s sales strategy in 2024 includes immediate vehicle delivery and a range of incentives such as financing offers, discounts, and free Supercharging and FSD for a limited time. The days of long waiting times for Tesla delivery are over, with available vehicles ready for immediate purchase. The company is actively reaching out to customers with deals to entice them into purchasing a new vehicle promptly. Tesla’s sales push is focused on maximizing sales in the current year before potential changes to the EV tax credit and other market factors in 2025.
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