This month, Tesla is offering discounts on its Model 3 and Model Y Electric vehicles delivered in the United States and Canada, according to a sales page on the company’s website on Wednesday. The offer comes as investors have grappled with worries over softening demand as world economies cool off.
Customers in the United States can receive a $7,500 credit while Canadian customers can enjoy a $5,000 credit on any Model 3 or Model Y vehicles delivered before the end of the year. They will also receive free supercharging for 10,000 km (6,000 miles), according to the offer.
Tesla has enjoyed immense benefits from the new Inflation Reduction Act, which offers EV makers the ability to give customers rebates of up to $7,500 as an incentive to reduce their dependency on Chinese manufacturing and sourcing of materials and parts for their vehicles.
Tesla issued its offer just days after the US Treasury Department released its guidance on sourcing electric vehicle batteries.
In the current global economic environment, investors have been worrying that Tesla will have to grapple with lagging demand. In October Tesla announced it would miss its vehicle delivery target for 2022. However the company dismissed concerns over lagging demand, even after its revenues missed Wall Street estimates.
The current $7,500 discount being offered is an increase over an offer made earlier this month, when news website Electrek reported that Tesla was offering a $3,750 discount its Model 3 and Model Y EVs delivered in the United States in December.
Tesla has also offered Chinese customers a 6,000 yuan ($860) discount on some models delivered in China in 2022.