Last Updated: May 20, 2023, 02:39 IST
The Model Y is the electric vehicle (EV) maker’s best-selling model globally (Photo: Tesla)
Tesla, which this year has aggressively cut vehicle prices in several regions, is resorting to the traditional automakers’ tactic of offering incentives
Tesla is offering discounts of more than $1,300 on some Model 3 cars in its U.S. inventory following even heavier discounts in Europe, according to a Reuters’ review of its website, at a time when the electric carmaker has raised U.S. prices on most newly ordered cars this month.
Tesla, which this year has aggressively cut vehicle prices in several regions, is resorting to the traditional automakers’ tactic of offering incentives to clear inventory at a time when it faces economic headwinds and rising competition, industry analysts say.
Tesla CEO Elon Musk told shareholders on Tuesday the company will try advertising for the first time, in a move seen by analysts to drum up demand.
Musk also warned Tesla was not immune to the global economy, which he said will be difficult for the next 12 months.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters)
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