Tesla Daily: Tesla News & Analysis
EV Credit News, Tesla Price Changes, Cybertruck Updates, Brand Loyalty (10.09.23)
Oct 9, 2023
EV credit guidance issued by IRS and Treasury Department, Tesla lowers prices and changes incentives, Cybertruck updates including livestream and castings at Giga Texas, China sales update, Tesla comments on lithium refinery, V4 Supercharger installations begin, S&P publishes automotive brand loyalty data, union updates
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Quick takeaways
- Tesla reduces Model 3 and Model Y prices in the US while adjusting referral program and increasing price in Norway and Sweden, potentially impacting margins.
- US Department of Treasury and IRS release new guidance on EV Tax Credit allowing consumers to transfer the credit at point of sale, making it more accessible and immediate.
Deep dives
Tesla's Pricing Updates
Tesla has made changes to the pricing of Model 3 and Model Y in the United States, reducing the prices by various amounts. These price cuts may be offset by lower costs per unit in Q4 due to economies of scale and better utilization. However, the removal of inventory discounts may have a material impact on margins. Additionally, Tesla has reduced discounts from the referral program and increased the price of the Model Y in Norway and Sweden.
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