Tesla offers $7,500 rebate and free Supercharging at the end of the year
Tesla offers $7,500 rebate and free Supercharging at the end of the year
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Tesla raised its prices multiple times in 2022, but buyers hoping for better days could be rewarded. The automaker is offering free top-ups to anyone who takes delivery between December 21 and December 31, and Model 3 and Model Y buyers will get an additional $7,500 “credit.”
The custom configuration option is extremely difficult to find on Tesla’s website, requiring buyers to search through existing inventory before the link can be found. That’s probably for the best because it’s the safest way to take advantage of Tesla’s offering. Wait times for some of its models are adding months, although Model 3 times have shrunk significantly, with all configurations citing delivery before the end of the year.
Discounts on Tesla models are spreading across North America as Canadian and Mexican shoppers see similar news when visiting the site. The automaker is offering Canadians CAD$5,000 and Mexicans MXN73,750. Both receive 10,000 kilometers of supercharging for free. These rebates significantly mitigate the financial impact of buying a new Tesla, but don’t erase the price hikes of the past year.
In early 2021, the Model 3 Standard Range was available for around $37,000. This price started to increase and ended 2021 at around $45,000. The standard range, rear-wheel drive Model 3 starts at $46,990 today, and that’s before choosing a color other than white or silver, or adding the $6,000 Autopilot or the automaker’s “Full Self-Driving” feature for $15,000.
Tesla’s vehicles aren’t currently eligible for federal tax credits, but that’s about to change in January, which could dampen demand until the rules change. Offering a $7,500 rebate effectively equalizes the price of a new Model 3 or Model Y before and after the tax credit rule change. (The S and X models are not eligible because they exceed the tax credit’s price limits.) The automaker’s vehicles were ineligible for tax credits after exceeding the 200,000-unit threshold of the previous program. However, that will change on January 1, and the Model 3 and Y will again be eligible for the full $7,500 tax credit for a period of time, at least while the Treasury Department finalizes its guidance on the new legislation’s requirements for the procurement of raw materials sorted out.
