Tesla Offers Discounts Of Up To $4K On Select Model 3, Y Vehicles As It Looks To Avert 1st-Ever Decline In Annual Deliveries

EV giant Tesla Inc TSLA is now offering discounts of up to $4000 on select inventory Model Y and Model 3 vehicles in the U.S. as it looks to avert recording its first-ever decline in annual deliveries.

What Happened: An inventory 2024 Model Y Long Range rear-wheel drive is now priced at $41,390 on Tesla’s website, down from its original starting price of $44,990.

The starting price on a Model 3 Long Range rear-wheel drive variant, meanwhile, is $40,010, down from its original price of $43,490.

Why It Matters: Tesla delivered 462,890 vehicles in the third quarter, up 6.4% from a year earlier, but still short of estimates.

The company is currently at risk of reporting its first-ever decline in annual deliveries, particularly after deliveries fell 8.5% year-on-year in the first quarter and 4.8% in the second quarter.

For the full-year 2023, Tesla delivered 1,808,581 vehicles. To mark a growth over last year, the company has to deliver at least 514,926 vehicles in the three months through the end of December.

Price Action: Tesla stock closed 0.84% lower on Monday, at $218.85. Year-to-date, the EV giant’s shares are down 11.90%, according to Benzinga Pro data.

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