Tesla crediting US$3750 towards the Model 3 or Model Y price to preempt the subsidy wait
Tesla has started issuing a US$3750 "credit" towards the purchase of a new Model 3 or Model Y unit ordered for delivery this month. The "price adjustment" has been communicated to the sales team with the clarification that it is only valid for December. Still, a discount in any form is a rather unusual move for Tesla, which recently had to cut prices for the Model Y and Model 3 in China on softening demand and a rise in direct competition that were increasing its vehicle inventory.
In the US, it would also resort to a direct price cut rather than some convoluted reduction scheme, and the temporary nature of the US$3,750 while incentive seems to coincide with the looming Inflation Reduction Act subsidy start in January. The legislation includes US$7,500 tax credit for the purchase of a new electric car, which Tesla's new "credit" incentive is exactly half of.
Alternatively, since the government's new EV subsidy requirements only give the full tax credit allowance to made-in-USA cars and components, those vehicles with foreign-sourced batteries or materials would just qualify for half, or what Tesla is giving right now. This way, customers who may have been on the sidelines during December, waiting for the subsidy scheme to kick in, shouldn't have to wait anymore, as they will get the same money directly from Tesla as a discount and might be willing to pull the buying trigger faster.
On the other hand, Tesla did offer hidden incentives before the outright Model 3 and Model Y price cut in China. It first offered significant insurance discounts if bought from a Tesla store there, and then started offering a heretofore paid color option for free. The US sales team may not be immune from a similar reaction to a more tepid demand situation stateside, yet the amount of the new "price adjustment" that Tesla is doling out for Model 3 or Model Y deliveries in December hints that the incentive is likely geared to preempt a subsidy pause by potential buyers.