Tesla deliveries may disappoint...again
When is Tesla planning to start production of new EV models?
Tesla plans to start production of its next-generation electric vehicle (EV) at its Texas factory in the second half of 2025, according to CEO Elon Musk. The company is also planning a series of new EVs, including more affordable models4. Production for these vehicles is likely a ways off, as Tesla is currently focused on ramping up production for the Cybertruck and the Semi.
What incentives is Tesla using to reduce vehicle inventory?
Tesla is using deep discounts on new vehicles, particularly on the Model Y, to reduce its inventory. Some discounts amount to as much as $7,520, which is applied before the $7,500 federal tax credit if the buyer is eligible. These incentives are being offered much earlier in the quarter compared to previous years.
Why is Tesla's sales growth projected to be lower in 2024?
Tesla's sales growth is projected to be lower in 2024 due to several factors, including increased competition in the EV market, slowing demand for EVs in the U.S., and the impact of months-long price cuts wearing off. Additionally, Tesla is currently between two major growth waves, with the first one being the global expansion of the Model 3/Y platform, and the next one expected to be initiated by the global expansion of the next-generation vehicle platform.