Tesla is already offering low 1.99% financing on six-year loans for customers looking to buy the $48,990 long-range, all-wheel-drive Model Y, the series production version of the newer car that debuted in early April. Gone are the days when Tesla had to keep hiking prices to avoid being hopelessly swamped by demand. Now CEO Elon Musk has to fight for every new customer.
Just weeks after the launch of the Model Y refresh, a slightly newer version of the five-year-old crossover, Tesla informed buyers on Sunday they can already have the car at a discounted financing rate. Interested buyers can qualify for a six-year loan at 1.99% if they put down $3,999 for the purchase of a long-range all-wheel-drive version. By contrast, financing rates for some of Tesla’s upscale models top 6%.
“But the low sales numbers were just potential buyers delaying their purchase, because the new Model Y will release soon.”
Safe to say that we finally have evidence that people weren’t delaying. It’s also not the car either, the car is fine and very competitive. I drive a Model 3 and I drove a couple competitor cars, therefore I know Tesla is up there with the competition. That is Volkswagen, Toyota and the large volume brands, I don’t view Tesla as a luxury brand like BMW and Mercedes though.
So what else is there? I’d wager having a Nazi as CEO doesn’t help sales at all. I’m in a mid class bubble in The Netherlands where many in my bubble can afford or even actively looked at purchasing a Tesla, all of them say the same thing: I do not support Nazi’s and by extension try to buy as little US made products as I can. This is the same customer base that 5 years ago would definitely have bought a Tesla in a heartbeat. Tesla will continue to lose with Musk at the helm.