Tesla Model 3 And Model Y Eligible For $3,750 Discount

Dec. 10, 2022 6:02 AM ET byJarryd Neves Pricing /2 Comments

Interested buyers have to take delivery in December 2022.

Tesla is offering a $3,750 discount onModel 3andModel Yvehicles - but there's a caveat. Buyers must take delivery in December 2022.

The automaker quietly announced the deal on the inventory section of its website, where a message reads, "Take delivery of a new Model 3 or Model Y in December 2022 for a $3,750 credit." Those familiar with Tesla know the brand doesn't generally offer incentives - it's actuallyprone to raising prices unexpectedly- leading us to wonder what's the motive behind the sudden discount.

According toElectrek, which first learned of the discounts via a source, the unusual discount is only being offered for December. It seems the automaker wants to encourage people to take delivery of a vehicle in December instead of waiting for the new $7,500 tax credit that will kick in this January.

Tesla

Per the publication, Tesla has to contend with a spate of order cancellations. Customers faced with lengthy wait times are canceling their vehicles for different reasons. Still, it seems some order holders are trying to push their deliveries into 2023 to take advantage of thenew EV tax credit.

Tesla is reportedly unwilling to hold onto vehicles and is holding customers to their contracts, resulting in further cancellations. While the automaker hasn't confirmed anything, it's also possible that it wants to get rid of existing stock before the year ends, but we're yet to see whether the $3,750 discount will entice enough buyers.

Then again, that amount may be all Tesla owners are eligible for, even under the new incentives scheme. The Inflation Reduction Act states that qualifying EVs must have a certain amount of battery components manufactured in North America.

Tesla

Tesla uses Panasonic and CATL-sourced batteries, meaning its vehicles may only qualify for $3,750 when the new legislation comes into play on January 1.

If you're in the market for an electric vehicle but can exercise some patience, you may want to wait a year or more for the updated Tesla Model 3 to arrive. Rumors suggest the entry-level modelwill receive a substantial updateand borrow elements from the larger Model S and Model X, such as a new touchscreen and updated interior touches.

We can also expect uprated performance and, importantly, refreshed styling. A recently spied test unit wasspotted with heavy camouflage front and rear, suggesting that the electric sedan will be significantly altered.

If you're in the market for a Tesla, you may want to take advantage of the deal now - discounts don't come around that often, and you never know what pricing changes will take place next year.