Tesla Inc. is offering rare discounts through year's end on its two top-selling models, an indication that demand is slowing for its electric vehicles.
Lower priced versions of its new Models 3 and Y will be eligible for the federal tax credit come January due to limits on vehicle purchase prices outlined in the Inflation Reduction Act.
Without the discounts, the Model 3 starts at just over $48,000 including shipping, while the Y has a starting price of just over $67,000. To be eligible for the federal tax credit, vehicles can't have a sticker price of over $55,000 for sedans and $80,000 for trucks and SUVs.
Tesla may be offering the discounts to juice sales before the end of the year in an effort to meet a pledge to grow vehicle sales by 50%. On the company's third-quarter earnings conference call in October, Tesla CFO Zachary Kirkhorn said Tesla will fall just short of its 50% sales growth target. But he later was contradicted by CEO Elon Musk.
Musk predicted 50% annual production and delivery growth, but also pointed to logistical problems shipping vehicles.
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