Tesla dangles deals for new buyers who take delivery by end of year as it tries to hit goal
- Tesla is offering three months of free Supercharging and FSD to customers taking deliveries of a new vehicle in 2024.
- The incentives come as Tesla strives to meet its target of delivering a record number of cars this year.
If you're thinking of buying a Tesla, now may be a good time.
Elon Musk is looking to deliver a record number of Teslas by the end of the year, so the car company is increasing its incentives with less than two months to go in 2024.
The EV giant is offering three months of free Supercharging and its Full Self-Driving (Supervised) beta software to customers who take delivery of a new inventory Tesla in North America by December 31. FSD usually costs $8,000.
It's important to note this doesn't mean you automatically get the incentives if you custom order a new Tesla.
The "new inventory vehicles" Tesla references in the promotion refer to Teslas that are already built and ready to be delivered. The banner on Tesla's website says used vehicles and business orders are excluded from this deal, and the offer can't be postponed to a later date. So if you kit out a Tesla model that isn't built in time for you to take delivery this year, you're out of luck.
Tesla added the new promotion as it looks to make good on its guidance that it will grow vehicle deliveries this year. In its third-quarter earnings, Tesla predicted it would end the year with "slight growth in vehicle deliveries" despite a challenging landscape.
The EV maker delivered about 1,294,000 vehicles as of the third quarter and ended 2023 with 1.81 million total deliveries. If Tesla wants to beat last year's delivery numbers, that means it would need to deliver over 516,000 vehicles in the fourth quarter. Wells Fargo analysts previously said they expect Tesla to offer "aggressive finance promos globally" this quarter.
Tesla's latest offerings aren't the first time it's offered incentives to new buyers. In July, the EV maker offered three months of free Supercharging for buyers taking delivery of any Model S, 3, X, or Y by August 15. In August, Tesla introduced a $5,000 three-year bundle for its Model S and Model X, offering an FSD-supervised subscription, Supercharging, and premium connectivity.
Another incentive that may work in Tesla's favor is the looming possibility that the US may rescind the $7,5000 federal tax credit awarded to those who purchase new EVs. Trump is reported planning to get rid of the tax credit, a benefit introduced under the Inflation Reduction Act. Musk has seemingly voiced his support, writing online: "End all government subsidies, including those for EVs, oil and gas."
The threat of rising EV prices could push some would-be EV buyers to pull the trigger on a new Tesla before Trump takes office. Tesla's additional incentives simply sweeten the deal.