Tesla is currently offering significant discounts on its Model Y SUV, with price markdowns of up to $7,500 in some cases. As the company looks to clear out inventory, these discounts are being applied to various versions of the SUV on their website, with prices varying across individual vehicles within each version. Despite these price cuts, Tesla’s latest quarterly report paints a less positive picture. In Q1, the company produced 433,371 vehicles but only delivered 386,810. This was significantly lower than what analysts had expected, representing a drop of about 20% from the previous quarter and 8% from the same time last year.
Various factors have been attributed to this drop in delivery volume, including the production ramp for the updated Model 3, an arson attack at the Berlin Gigafactory, and supply chain issues stemming from the Red Sea conflict. Softening demand for Tesla’s vehicles may also be contributing to the sales problem faced by the company and other electric vehicle manufacturers. Following the release of this quarterly report, Tesla shares have fallen more than 5% and have dropped approximately 30% over the past year.
As a journalist rewriting this article: The latest news regarding Tesla is that they are currently offering significant discounts on their Model Y SUV with markdowns as high as $7,500 in some cases. These discounts are being applied across different versions of the SUV on their website with prices varying based on specific vehicles within each version. However, despite these price cuts; Tesla’s recent quarterly report shows that they produced fewer vehicles than expected in Q1 which resulted in a significant drop in delivery volume of about 20%. Analysts had anticipated higher delivery volumes but instead there was an 8% decrease from Q4 and a drop of around 25% compared to Q1 last year due to various factors such as production ramp for updated Model 3 and arson attacks at Gigafactories among others leading to supply chain issues and softening demand for EV models like those offered by Tesla.
