Tesla has announced that the 0% interest loan offer on Model 3 and Y in North America will come to an end mid-December. The offer, aimed at hiking deliveries in the last quarter of 2024, has been a major incentive for potential buyers.
Key Details
- 0% APR for new Model 3/Y in the US will end on December 15, 2024
- Order now and take delivery by December 31, 2024, to avail the offer
Aim of the Offer
The 0% interest loan offer is aimed at hiking deliveries in the last quarter of 2024. To mark a growth over last year, Tesla needs to deliver at least 514,926 vehicles in the three months through the end of December.
Why It Matters
Tesla has never managed to deliver over 500,000 EVs in a quarter to date, making this an ambitious target. In the third quarter, Tesla reported deliveries of 462,890 vehicles, up 6.4% year-over-year and up 4.3% quarter-over-quarter. However, deliveries fell 8.5% year-on-year in the first quarter and by 4.8% in the second quarter.
Global Delivery Target
According to Tesla researcher Troy Teslike, Tesla might not touch its global delivery target this year owing to the drop in sales in the U.S. and Europe despite the rise in China.
Deliveries in 2023
For the full year 2023, Tesla delivered 1,808,581 vehicles around the globe.
Quarterly Deliveries
- Q1: 8.5% decrease year-over-year
- Q2: 4.8% decrease year-over-year
- Q3: 6.4% increase year-over-year, 4.3% increase quarter-over-quarter