According to its website's sales pages, Tesla Inc. is offering discounts on the Model Y and Model 3 electric cars that will be delivered in the United States and Canada this month.
People are concerned that demand for automobiles will decrease as the economy slows down, which could harm the EV manufacturer.
Pages revealed that the company is offering a $7,500 credit in the United States and a $5,000 credit in Canada for Model 3 and Model Y vehicles delivered before the end of the year, as well as free supercharging for 10,000 kilometers (6,000 miles).
As part of a law intended to encourage automakers to reduce their reliance on China, the Inflation Reduction Act (IRA) of the Biden administration offers rebates of nearly $7,500 on the purchase of electric vehicles. Tesla has been one of the law's primary beneficiaries.
The latest discount comes just a few days after the U.S. Treasury Department pushed back the release of its proposed guidance on the origin of batteries for electric vehicles.
Investors are concerned about Tesla's weakening demand. In October, the EV manufacturer announced that it would not meet its vehicle delivery goal for the year but downplayed demand concerns after its revenue fell short of Wall Street's projections.
Earlier in December 2022, the news website Electrek reported that Tesla offered a $3,750 discount on Model 3 and Model Y electric vehicle deliveries in the US for December.