Tesla (TSLA) is rolling out new discounts and incentives across its lineup, including the Model 3, Model Y, and Cybertruck, in the U.S. market. The push comes as the federal $7,500 EV tax credit is set to expire on September 30, leading to a race among automakers to boost Q3 sales before the deadline.
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So far this year, Tesla’s sales declined in key international markets like Europe and China. However, the U.S. was an exception. With the federal tax credit of up to $7,500 for eligible electric vehicles slated to end soon, the U.S. market is also expected to face headwinds.
Tesla’s Impressive Offers
Among the most notable offers are 0% APR financing on the Cybertruck, 18 months of free Supercharging for cash buyers of the Model 3, free upgrades on select inventory, including wheels and paint options, and a $1,000 discount for military members, first responders, teachers, and students.
Tesla is also highlighting a new perk; up to $10,000 in auto loan interest is now tax-deductible, adding another layer of savings for buyers financing their vehicles.
These promotions are mostly tied to the September 30 delivery deadline, aligning with both the close of the third quarter and the federal tax credit’s final eligibility date.
Importantly, the offers reflect Tesla’s efforts to capitalize on remaining incentives and boost demand in its strongest market.
Is TSLA Stock a Buy?
Turning to Wall Street, TSLA stock has a Hold consensus rating based on 13 Buys, 13 Holds, and eight Sells assigned in the last three months. At $298.97, the average Tesla price target implies a 6.4% downside potential. The stock has declined 22.3% over the past six months.
