Faced with weak sales in early 2025, U.S. electric car maker Tesla is attracting consumers by offering charging discounts and low-interest loans in a bid to revive sales.
Tesla provides free lifelong super charging service for consumers who purchase Foundation Series Cybertruck after February 28. At the same time, the company also launched a zero-interest loan or zero down payment discount for Model 3 and launched a price reduction promotion for the old Model Y to accelerate the production of the new Model Y. The higher-end Tesla Model X and Model S models also enjoy lifelong free super charging rights.
It is reported that when consumers purchase Tesla Model 3 and enjoy a $7,500 federal tax credit at the point of sale, they do not need to pay a down payment when signing, and can enjoy a 0.99% annual interest rate discount on a 60-month term. It is worth noting that not all applicants meet the criteria. The promotion may change or terminate at any time and cannot be retroactively applicable. Used cars and corporate sales do not participate in this activity.
In addition to supercharge and loan offers, Tesla is also promoting a federal electric vehicle tax credit offer for several of its models, although the Trump administration has threatened to remove the incentive, including the cancellation of tax credits for many Tesla models, such as the low-priced version of the Cybertruck.
Tesla appears to be struggling to sell the Foundation Series Cybertruck, which has been backlogged for months and is more expensive. In June last year, Musk said Tesla plans to stop production of the Foundation Series Cybertruck “soon”.
Although the first quarter is usually the off-season for Tesla, the decline this year is particularly significant. Preliminary data from the China Passenger Car Association shows that Tesla’s sales in its largest market in China fell 49% year-on-year. In the French market, after the sluggish sales in January, Tesla’s registration volume in February fell 26% year-on-year, while its sales in the entire European market in January fell 45% year-on-year. In California, the largest market in the United States, the Tesla Model 3 model also saw a 36% year-on-year registration in 2024.
Tesla CEO Elon Musk’s controversial political stance in Europe and the United States this year has sparked strong protests from consumers, and some exhibition halls and super charging stations have also been deliberately damaged. Some Tesla owners have posted anti-Musk slogans on their cars, while others choose to resell Tesla or buy electric cars from other brands.
Tesla executives said Tesla’s sales will resume growth this year after its first annual sales decline in more than a decade. To improve sales performance in 2024, the company has launched several year-end promotions. However, Tesla did not provide specific figures in its 2025 annual outlook released in January, and some analysts believe this is a correction to Musk’s remarks about “Tesla sales may grow by 20% to 30%” last October.
Tesla is also facing aging product line, and although the company is expected to start producing more affordable models in the first half of this year, specific information about the new model remains limited. The company is expected to lose weeks of production in the first quarter of 2025 as factory upgrades to produce the redesigned Tesla Model Y, its best-selling model.
Tesla’s stock price fell 4.7% at 13:20 New York time on March 4 due to market concerns about global trade disputes. As of the close of March 3, the company’s share price has fallen by 30% this year.