Tesla, Inc. TSLA shares have been on a tear since the start of May, with buying interest accelerating in recent sessions.
The next major catalyst for the stock is the second-quarter deliveries update, likely due on July 2. The company typically goes all out in the final few days of the quarter to perk up sales. It appears that this time won't be an exception.
What Happened: Tesla has offered discounts on purchases of its Model S and Model X vehicles, price listings on the company's website showed. The 2023 Model S dual motor all-wheel drive is listed at $84,740, down $7,500 from $92,240. The 2023 Model S Plaid is listed at $104,740, down $7,500 from its pricing of $112,240.
The most recent discount is above the $5,000 discount Tesla offered a few weeks ago, a Tesla influencer noted on Twitter on Friday.
Additionally, the company is offering three years of free supercharging for Model S and X vehicles that are bought and delivered before June 30. The freebie is tied to the user's Tesla account and cannot be transferred to another vehicle or person in case of an ownership transfer.
The company extended this freebie to Model 3 and Y Performance vehicles if ordered and delivered between June 14 and June 30.
See Also: Everything You Need To Know About Tesla Stock
Why It's Important: Tesla announced multiple rounds of steep price cuts earlier this year as demand faltered amid uncertain economic conditions. This affected the margins and, in turn, profitability.
The electric vehicle maker has stalled price cuts and has, in fact, begun to raise prices in small increments.
Future Fund's Gary Black said he expects second-quarter volume to come in at a record 450,000 units, marking a 76% year-over-year growth, compared to the consensus estimate of 448,000 units.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Tesla ended Friday’s session up 1.81% at $260.54, according to Benzinga Pro data.
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