EV giant Tesla Inc TSLA is now attempting to woo military personnel into purchasing their cars by offering them $1,000 off on the purchase price of any of its cars but the Cybertruck.
What Happened: Military veterans, retirees, active duty members, and their spouses can now avail $1000 off on buying a Model 3, Model Y, Model S, and Model X.
Eligible individuals just have to pick their vehicle and verify their military status to be eligible. There is no limit on the number of vehicles that can be purchased under the offer.
The program, known as the Tesla Military Purchase Program, was announced on Wednesday, in time for the Fourth of July.
Why It Matters: Tesla also has a veteran program, aimed at allowing veterans to settle into civilian life and be part of the company’s battery and EV production. The program allows for veterans from any military branch to join the company in manufacturing, logistics, sales, IT, and more.
The offer is also aimed at boosting the company’s sales which has been going down since the start of 2024. For the second quarter, the company delivered 443,956 vehicles globally marking a 4.8% drop from last year but still beating the consensus estimate. However, the delivery numbers are still better than in the first quarter when the company delivered just 386,810 vehicles.
However, Tesla CEO Elon Musk is optimistic and said in April during the company’s first-quarter earnings call that the company will indeed have higher sales in 2024 as compared to last year when it delivered a total of 1.81 million vehicles. The company now has to sell about a million vehicles in the remaining half of the year if it is to meet the CEO’s expectations.
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