As Tesla aims to close out a record quarter despite the noise, it has approved the opening of show and test drive sales at locations in North America.
Over the past few weeks, we’ve reported on the many incentives Tesla has introduced for selling cars this quarter.
Tesla began offering buyers a $3,750 discount for anyone delivering a car in the US in December.
Then the automaker started offering 10,000 free Supercharge miles to anyone who gets a delivery this month.
Earlier this week, Tesla increased the discount to $7,500. This is equivalent to the federal tax credit for electric vehicles that will be implemented in the United States next month for vehicles delivered.
However, they did not report how well these incentives worked.
We know Tesla’s inventory is getting low in the US because of the success of its incentive program.
Tesla has very few Model 3 vehicles available in the Bay Area. There is also a Y type. The automaker literally sells one Model 3 and fewer than 20 Model Ys listed for the Los Angeles area.
Tesla still has dozens of Model 3s and a few Model Ys in New York City. We still have stock in Florida.
But most markets are starting to run out of stock after a rare discount program Tesla introduced. Fremont and Texas have more cars lining up for the U.S. market, but many of them have already been talked about.
electric A source familiar with the matter learned yesterday that Tesla has begun licensing display and test-drive vehicles in several U.S. markets.
Tesla is expected to significantly surpass previous U.S. delivery records in the U.S. and globally.
The last record was over 343,000 vehicles achieved last quarter.
In the fourth quarter of 2022, Tesla plans to deliver over 400,000 vehicles, thanks to increased production capacity and a significant number of vehicles in transit at the end of the previous quarter.
I think Tesla will likely be close to Elon’s magic number (420,000 shipments) in Q4.
This will allow Tesla to ship more than 1.3 million units in 2022, or about 39% year-over-year growth. That’s not his 50% percentage that Tesla was aiming for, but it’s still impressive compared to other brands in the current car market.
The problem for Tesla is that a significant number of its 420,000 cars saw significant price cuts this quarter. Tesla has industry-leading gross margins, and while it can profitably absorb these discounts, it will still have a negative impact on your bottom line.
Now, in the US, the government plans to cover these discounts from at least the next quarter.
It will be interesting to see how Tesla fares in 2023 with significantly expanded production capacity in other parts of the world.
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