zzdcar
Home
/
Reviews
/
Buying
/
Tesla's Price Cuts Might Actually Be Working
Tesla's Price Cuts Might Actually Be Working-May 2024
2024-02-19 EST 22:09:16

Tesla model lineup

Since the beginning of the year Tesla its … well, Tesla has changed its prices quite a few times, so if you’re struggling to keep track, you’re not alone. Back in mid April, for instance, the company cut prices for . And while it hasn’t been clear whether or not those price cuts helped move metal or , we now have a slightly clearer picture. has data that may point to those price cuts actually helping to sell Teslas.

Vehicle registration data from Experian — since Tesla doesn’t actually release sales reports like a normal automaker — shows that in Q1 of 2023 Model Y registrations rose some 79 percent to 93,294. Coincidently the Model Y saw cut of any Tesla model around the same time.

Prices have dropped significantly for the Model Y. At the beginning of the year you couldn’t get into a Model Y for less than $67,000. That dropped $56,630 by the end of Q1; as of this writing (279 miles) Model Y for $47,490 which is just a bit higher than what it was just over three weeks ago.

Other Tesla models have been doing just OK, though not as great as the Model Y. Tesla registrations rose 37 percent in Q1 compared to Q1 2022. Tesla’s cheapest model, the Model 3, saw a price cut that made it car in the U.S. in late February. It now costs $40,240 to get into a standard range Model 3. But those low prices only saw Model 3 registrations rise 11 percent.

While Tesla’s most expensive models, the Model S and Model X, ($14,810 and $20,810 respectively), it wasn’t enough to move too many. Q1 registrations for the Model S totaled just 2,635, a decline of 71 percent; Model X registrations rose 34 percent but were still just 6,545.

Could we be seeing the plateauing of Tesla demand? Possibly. Model Y price cuts coinciding with a registration jump could mean that more buyers who previously couldn’t afford to get one finally bit the bullet. But between the price cuts, perks like free Supercharger access and a referral program for owners, Tesla could sense demand waning. With industry Tesla delivering just over 670,000 vehicles this year, though, things may not be as bad as they seem.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Buying
At $19,900, Would You Stake A Claim To This Rare 1977 Volkswagen Hormiga Stakebed?
At $19,900, Would You Stake A Claim To This Rare 1977 Volkswagen Hormiga Stakebed?
For today’s contest I bring you a VW Hormiga or “Ant.” You’ve probably never heard of it before, but now that you have, let’s see what you might expect to pay for it. One of the most famous lines in the 1978’s Animal House is Dean Wormer chastising Delta...
May 6, 2025
The GR Corolla Has Been Such A Long Time Coming
The GR Corolla Has Been Such A Long Time Coming
Like many of you, I am eagerly anticipating , mainly because it’s the closest we’re going to get to the GR Yaris in much of North America. (I say “much of” because you could, in fact, .) I’d rather have the Yaris, as it’s a bona fide homologation special;...
May 6, 2025
Don't Get Sucked Into The CarMax Marketing Machine: Best of Jalopnik
Don't Get Sucked Into The CarMax Marketing Machine: Best of Jalopnik
Oh, Carmax. You might , but you have some damn good marketing. So good in fact, that even a seasoned gearhead can get hypnotized by the desire to buy car “the best way,” even if it means overspending. I had a customer in the Indianapolis area that wanted to get...
May 6, 2025
This List Of Cars With The Highest Markups Doesn't Tell The Whole Story
This List Of Cars With The Highest Markups Doesn't Tell The Whole Story
More new car buyers than ever before . Finding a “deal” looks very different in this market than it did in the past. We have reported on several occasions and there is even a Our friends at shared this latest report for the month, which details what models are...
May 6, 2025
Ranking All The Eleanor Mustangs For Sale At Mecum This Weekend
Ranking All The Eleanor Mustangs For Sale At Mecum This Weekend
This weekend, there’s a . Big auction lots like these are always fun to peruse, to see if anything interesting () pops up. This auction, however, has an interesting category of cars: Three near-identical Eleanor Mustang replicas. Having never seen Gone In 60 Seconds, I’ve never understood the appeal...
May 6, 2025
Here's The Problem With Those 'No Haggle' Dealerships
Here's The Problem With Those 'No Haggle' Dealerships
One of the most frustrating aspects of buying a car from a dealer is the back and forth about the price. Some dealers have responded to this by offering upfront, . And while this seemingly streamlines the process and makes (some) buyers happy, in practice, it’s a little bit more...
May 6, 2025
Copyright 2023-2025 - www.zzdcar.com All Rights Reserved