Tesla had to make significant price cuts for the Model Y to reduce unsold electric vehicle stock. It’s reported that the number of vehicles produced in the first quarter of 2024 exceeded deliveries by 46,561 units, indicating the highest vehicle count in the company’s inventory. But will these discounts be available in Turkey?
Tesla Model Y overstock discount coming
The Austin, Texas-based automaker reduced the price of the rear-wheel-drive Model Y by $4,600 and both the Model Y Long Range and Model Y Performance models by $5,000. Additionally, they are offering three months of free Full Self-Driving beta to expedite sales.
According to Bloomberg, with the inclusion of a $7,500 Federal EV Tax Credit, the starting price for the Model Y RWD drops to $33,890, the Model Y Long Range to $37,490, and the top-tier Model Y Performance to $40,690.
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Tesla ties the overstock discount and global sales drop to the shutdown of its German factory, though some analysts disagree. JPMorgan Chase & Co. analyst Ryan Brinkman points out that the difference between the number of vehicles Tesla produced and sold in the first quarter indicates the issue isn’t demand-driven.
Tesla’s stock value fell by approximately 2.7% last Friday and has seen a more than 33% decrease over the year. Reports mention Tesla Model Y’s price cuts in America, making it difficult to say if these reductions will directly affect Tesla models in Turkey.
However, changes in global markets often impact other markets. Tesla’s pricing policy in Turkey could depend on various factors such as local demand, import taxes, exchange rates, and logistics costs. Therefore, any price adjustments in the Turkish market would likely depend on the company’s local strategies and market conditions.
For current information on Tesla’s prices in Turkey, checking the official Tesla website or authorized dealers is the best approach. Tesla’s price cuts and high vehicle inventory will significantly impact the company’s financial health and the future of the electric vehicle market.
How do you think the demand for electric vehicles will shape up in light of Tesla’s overstock and price reductions? Share your thoughts in the comments section below.
