Tuesday, December 27, 2022
Tesla, which rarely offers discounts, is now taking $7,500 off the price of Model 3 and Model Y cars in the US—if they’re ordered and delivered before the end of the year, Electrek reports(Opens in a new window).
In Canada and Mexico, Tesla is offering a $5,000 CAD / $74,750 MXN discount on Model 3 and Model Y vehicles purchased in the two countries, also before the end of 2022. In the US, the company is also slapping on 10,000 miles (and 10,000km in Mexico and Canada) worth of free Supercharger access.
The discounts, which have led some to believe Tesla is facing demand issues, saw Tesla stocks plunge 9%(Opens in a new window). The move comes as the EV maker is reportedly implementing a hiring freeze(Opens in a new window) and is set to trigger another wave of layoffs next quarter, Electrek reports.
Meanwhile, Tesla stock has dived(Opens in a new window) 60% this year (an erasure of $626 billion from its value) amid investor discomfort at Elon Musk’s purchase and subsequent management of Twitter.
On Friday, during a Twitter Space audio call, the billionaire businessman told Tesla investors that his personal Twitter account is “critical(Opens in a new window)” to Tesla’s stock price. He added that Twitter is a much less complex business to run than Tesla, saying the social media company had “maybe 10% of the complexity" of the EV firm.
According to a series of tweets(Opens in a new window) documenting the Twitter Space call by entrepreneur William LeGate, Musk claimed there is “no circumstance” that he would sell any more Tesla stock in 2023. The billionaire has repeatedly sold Tesla stock this year; last week he disclosed he had sold billion in stocks(Opens in a new window), bringing the total he has sold since late last year to $40 billion.
Tesla did not immediately respond to a request for comment.
Last week, Tesla’s third-largest individual shareholder, KoGuan Leo, rounded on Musk, calling for a new CEO to take over the EV maker, and accusing the nascent Twitter CEO of abandoning ship. In a move that has likely pleased Tesla investors, Musk announced he would step down as Twitter CEO once a “foolish enough” successor was found.
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