Tesla Looks to Boost Model Y Sales with Threats of Nearing Price Increases
The Tesla Model Y is a wildly popular EV on the global stage, but the automaker is still looking for ways to boost sales and keep it relevant. As we approach the end of the first quarter of 2024, Tesla is pushing the Model Y with a message that prices will increase on April 1 in hopes that the threat of higher purchase price s will drive buyers to act in the next two weeks.
Without a dealer network to act as a financial buffer between it and buyers, Tesla’s numbers look worse the more vehicles it has sitting in inventory. That has led the company to offer various promotions and discounts in the past, either through price cuts or the offer of free charging with a vehicle purchase. While this move isn’t a discount, it could incentivize buyers to purchase before the end of the quarter and make Tesla’s books look healthier to start the year.
These moves are not at all surprising for Tesla, but the company is in an interesting position. It does virtually zero marketing and does not have a communications department to field journalists’ inquiries. At the same time, its business model allows it to pivot quickly and offer incentives to boost sales when needed.
While boosting quarter-end sales is a good idea for Tesla, the discounts are regular enough now that it starts to look silly to buy one at any other time of the year. If you’re almost guaranteed to get a discount, there’s no reason to shop until Tesla cranks up the incentives. Even so, the company will likely remain in its dominant position atop the EV market in the U.S. for the foreseeable future, as other automakers are grappling with shifting demand for electric models and rising costs.
[Image: Tesla]
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Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.
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