In an effort to boost electric vehicle sales in the second quarter of 2023, Tesla increased discounts on some of the models in the existing inventory in the United States and Canada.
The promotions were already pretty decent before - up to $7,500 and three years of free Supercharging on the Model S/Model X and a few thousand dollar discount plus three months of free Supercharging on the Model 3.
See the base prices for custom orders in the table below.
The main requirement was to select a new car from the existing inventory and take delivery by June 30.
According to Drive Tesla Canada, the discounts increased compared to a week ago and now are as high as over $10,000 in the US. One Tesla Model S Plaid unit was offered for $10,840 less than a custom build, according to the article. In the case of the Model X, the maximum difference was $10,790.
That's quite a significant discount, although we must be aware that not all configurations are available in the existing inventory in particular areas of the country. Similar discounts are available in Canada.
In the case of the Model 3, the report says that about a $2,500 discount is available on most of the cars (up to $3,040 in the case of the Model 3 Performance version).
The Model Y - Tesla's best-selling electric car - remains in high demand and thus discounts on it are rare. There are some, but three-digit level and focused on the retired three-row version, it seems.
Tesla is pursuing another high-volume EV sales result in Q2, so things like discounts does not surprise us. The thing that will be interesting in the future is whether we will see this as a new pattern - discounts and free Supercharging promotions at the end of the quarter, with potential price reductions in the early-middle part of the quarter? Let's recall that the previous deepest price cuts were applied in the first months of a quarter (January and April). Theoretically, July might be next.
Tesla EV Prices (*without DST and Order Fee) - US
|Model||Base Price||Dest. Charge||Tax Credit||Effective Price|
|2023 Tesla Model 3 RWD 18-inch||$40,240||+$1,640||$7,500||$34,380|
|2023 Tesla Model 3 RWD 19-inch||$41,740||+$1,640||$7,500||$35,880|
|2023 Tesla Model 3 Long Range AWD 18-inch||$47,240||+$1,640||$7,500||$41,380|
|2023 Tesla Model 3 Long Range AWD 19-inch||$48,740||+$1,640||$7,500||$42,880|
|2023 Tesla Model 3 Perf. LR AWD 20-inch||$53,240||+$1,640||$7,500||$47,380|
|2023 Tesla Model S LR AWD 19-inch||$88,490||+$1,640||N/A||$90,130|
|2023 Tesla Model S LR AWD 21-inch||$92,990||+$1,640||N/A||$94,630|
|2023 Tesla Model S Plaid 19-inch||$108,490||+$1,640||N/A||$110,130|
|2023 Tesla Model S Plaid 21-inch||$112,990||+$1,640||N/A||$114,630|
|2023 Tesla Model X LR AWD 20-inch||$98,490||+$1,640||N/A||$100,130|
|2023 Tesla Model X LR AWD 22-inch||$103,990||+$1,640||N/A||$105,630|
|2023 Tesla Model X Plaid 20-inch||$108,490||+$1,640||N/A||$110,130|
|2023 Tesla Model X Plaid 22-inch||$113,990||+$1,640||N/A||$115,630|
|2023 Tesla Model Y AWD (4680) 19-inch||$47,740||+$1,640||$7,500||$41,880|
|2023 Tesla Model Y AWD (4680) 20-inch||$49,740||+$1,640||$7,500||$43,880|
|2023 Tesla Model Y Long Range AWD 19-inch||$50,490||+$1,640||$7,500||$44,630|
|2023 Tesla Model Y Long Range AWD 20-inch||$52,490||+$1,640||$7,500||$46,630|
|2023 Tesla Model Y Perf. LR AWD 21-inch||$54,490||+$1,640||$7,500||$48,630|
* Tesla adds a Destination fee (DST) of $1,390 and an Order Fee of $250 to all its models ($1,640 total).
Data Tracking Issues
An interesting topic was recently raised by Troy Teslike and Matt Jung, who carefully track Tesla-related stats. There are issues with getting data about Tesla existing inventory cars.
We don't know what is the exact cause of the technical change (it might be a coincidence), but some might even think that Tesla applied some changes to limit/block the ability to track the data and determine the number of available cars. Why? Well, seeing a higher number of cars awaiting customers would indicate that there might be discounts/promotions around the corner due to supply and demand imbalance.