Tesla is offering rare discounts through year’s end on its two top-selling models, an indication that demand is slowing for its electric vehicles.
FILE - A sign bearing the company logo outside a Tesla store in Cherry Creek Mall in Denver is seen here on Feb. 9, 2019. Tesla Inc. is offering rare discounts through year's end on its two top-selling models, an indication that demand is slowing for its electric vehicles. – Tesla Inc. is offering rare discounts through year's end on its two top-selling models, an indication that demand is slowing for its electric vehicles.
“This is a sign of demand cracks and not a good sign for Tesla heading into the December year-end,” Wedbush analyst Dan Ives said in an e-mail. “EV competition is increasing across the board, and Tesla is seeing some demand headwinds." In a regulatory quirk, many vehicles like Teslas that are made in North America likely will be eligible for the full $7,500 tax credit from January into March because the Treasury Department is still working on rules requiring battery minerals and parts to come from North America. It’s likely that most of the vehicles will only be eligible for half the credit once the rules come out in March.
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