UPDATE: 12/22/2022 - The discount on Model 3 and Model Y increased from $3,750 to $7,500 for deliveries from December 21 to 31 only, plus 10,000 free Supercharging miles have also been added to sweeten the pot. Text has been adjusted below to reflect updated offer
Two things are happening right now that make it a really good time to buy that Tesla EV you've had your eye on (at least in the United States). It's December and that means Tesla's fiscal fourth quarter and 2022 year are drawing to a close. Tesla always likes finishing the year and quarter strong so they can continue to show growth in the otherwise sluggish automotive market. Also, in January, 2023 (next month) a new version of the EV (electric vehicle) incentive will go live as part of the Inflation Reduction Act of 2022 (Public Law 117-169).
Under the new law, select Tesla, GM and Toyota EVs will once again be eligible for a tax credit. These companies' EVs and plug-in hybrid cars were previously excluded from the credit as all three companies have already delivered over 200,000 eligible EVs and plug-in hybrid cars in the United States. The new law and EV credit are a bit more restrictive in terms of which cars qualify and how much money you can make and be eligible for the tax credit. However the new law removes the delivery cap, which means Tesla buyers will be eligible for the tax credit again. For most people, purchasing a Tesla Model 3 (under $55,000) or Model Y (under $80,000) next year will enable the buyer to claim a tax credit of at least $3,750, possibly up to to $7,500, depending on how the details of the credit are defined.
Savvy EV buyers have been delaying their orders, waiting to get their Teslas delivered in the new year, and this may impact Tesla's 2022 delivery numbers. So in response, the company is offering a one-time "price adjustment" of $7,500 for any Model 3 or Model Y buyers who take delivery of their vehicles from December 21 to December 31, 2022. This is an instant point of sale discount, not a tax credit that you'll have to wait for a year to claim. Also, there are no income restrictions on the buyer and it looks like the sale price of the vehicle is not being considered either. This means the December discount is actually better for virtually all buyers.
As an additional incentive, Tesla is also offering 10,000 free Supercharging miles for deliveries taken before the end of 2022. 10,000 free Supercharging miles equates to 4000 kWH of free charging at Tesla Superchargers throughout the U.S. These miles expire two years from activation.
There is currently a waiting list for those who order a custom Model 3 or Model Y due to demand exceeding the current supply. But if you already have a Model 3 or Model Y order in place, you should contact your local Tesla store to see if you can expedite the delivery in December so you can take advantage of this deal. Also, any existing inventory of Model 3 and Model Y on Tesla store lots also qualify for the discount.
You can check Model 3 and Model Y inventory using the links below. Be sure to enter your zip code and the distance you'd like to check. Also, you may want to check neighboring states as Tesla isn't normally known for offering discounts of any kind.
