According to a check of Tesla's website by Reuters, the electric car manufacturer is giving discounts of more than $1,300 on select Model 3 vehicles in its U.S. inventory, mirroring even deeper reductions in Europe. This comes as the electric automaker has increased U.S. pricing on the majority of freshly purchased vehicles this month.
According to industry observers, Tesla is using the classic manufacturers' strategy of providing incentives to clear inventory at a time when it is facing economic headwinds and increased competition. This year, Tesla aggressively reduced car pricing in various locations.
Elon Musk, the CEO of Tesla, announced to the company's shareholders on Tuesday that it will experiment with advertising, a move that experts believe is intended to increase demand.
Tesla is not immune to the global economy, Musk said, which will be challenging over the next 12 months.