Telsa is aggressively pulling all available demand levers in the US market, implementing new price reductions and incentives in an effort to boost flagging sales amid a sharp decline attributed to quality concerns surrounding certain models.
Tesla has recently rolled out a series of new discounts and promotions in the United States over the past few days.
Prior to this, Tesla offered a unique program providing a $1,000 discount to US naval personnel. The company has since expanded the initiative to encompass “college students, educators, first responders, military veterans, retirees, active-duty personnel, their spouses, and surviving spouses.”
The replacement incentive program applies to Tesla’s entire lineup of new vehicles.
Tesla has introduced a new incentive program specifically for Lyft drivers. Eligible participants can earn up to $2,000 in incentives: $1,000 from Tesla, provided they accept a supply offer, and an additional $1,000 from Lyft if they complete 100 deliveries by July 13.
The automotive manufacturer stated on its official website:
Eligible Lyft drivers who purchase a brand-new Tesla vehicle are eligible to receive a one-thousand-dollar incentive.1 Upon completing 100 rides with Lyft by or before July 13, 2025, you’ll receive a $1,000 credit from Tesla. Tesla credits can be applied to Supercharging, a new Tesla vehicle purchase, scheduled service appointments, or retail store and online purchases at the Tesla Store. Offer a special promotion to exceptional and enthusiastic Lyft drivers who are currently in good standing with the company.
Telsa started notifying Cybertruck reservation holders that they only have a month left to take advantage of reduced FSD pricing, prior to the cost increase.
The automaker stated in the email:
As an early reservation holder, you gain access to the valued Full Self-Driving (Supervised) feature, worth $7,000. To ensure the maintenance of this value, supplies must be obtained by June 15th, 2025. By June 15, 2025, Supervised Driving (FSD) is expected to reach its latest valuation of $8,000, effective for newly priced items.
Upon Tesla’s initial Cybertruck reservation phase in 2019, customers committing to the vehicle secured a value of approximately $7,000 with their down payment for the ‘Full Self-Driving’ package at that time.
Tesla sets an ultimatum to boost flagging Cybertruck sales, as the company’s most ambitious project yet struggles to gain traction in the market.
In addition to these incentives, Tesla is further sweetening the deal by offering 0% financing on Model 3 purchases and a competitive 1.99% rate on Model Y models.
The numerous incentives put in place all contribute to creating crucial demand drivers for Tesla within the US market.
Tesla’s global gross sales fell short of expectations by 50,000 units, with the company attributing the shortfall to a manufacturing transition for Model Y, its best-selling model to date.
Despite these challenges, manufacturing has stabilized in Q2, allowing Tesla to overcome initial hurdles in selling its latest Model Y.
Despite strong initial interest, the manufacturer is now facing a surplus of unsold Mannequin Y models, with inventory levels rising as customers seemingly lose enthusiasm.
A recent report revealed that a group of Tesla employees penned an open letter, urging Elon Musk’s removal as CEO due to the perceived damage he has caused to the company’s reputation.
According to the letter, Tesla’s request was substantiated by the staff, who revealed that thousands of newly manufactured Model Ys remain unsold and stacked up in the US.
Electrek’s Take
Tesla’s performance has fallen short of expectations. Are these end-of-quarter stage incentives scheduled to kick in roughly halfway through the current quarter?
Despite being more transparent about their sales figures globally, Tesla’s domestic market performance remains shrouded in mystery within the United States.
In Europe and China, where Tesla is experiencing intense competition in the market, the company has taken the bold step of offering 0% financing across its entire product lineup, a move aimed at driving sales growth.
