Tesla Inc. is reportedly running low on inventory of the new Model Y in the US. This shortage comes as the September 30 deadline for the $7,500 EV credit approaches.
No New Inventory Near Austin
The EV giant has no inventory of new Model Y units within 200 miles of Austin. This information was shared by influencer Sawyer Merritt on social media platform X.
NEWS: New Tesla Model Y inventory is running very low across the US.
Some areas such as Austin, Texas are showing zero new Model Y inventory within a 200 mile radius as people rush to take advantage of the $7,500 federal EV credit before it expires on September 30th.
Tesla’s official website in the US also indicates that the company has limited inventory of the Model Y, with a single unit available within 200 miles of Los Angeles.
Tesla’s Dwindling Sales and New Lease Offers
The news comes as Tesla has been recording lackluster sales figures in the US and overseas markets like Europe. In response, Tesla is offering $0 down leases on its used vehicles, including the Model 3 and Model Y.
Additionally, Tesla is offering over 40% in discounts to lease providers in the UK, which could translate into lower monthly payments for customers. The company recorded a 60% drop in July deliveries in the country.
Price Hike for Cybertruck
Elsewhere, Tesla has hiked the price of the range-topping Cyberbeast trim of the Cybertruck, which now retails for $114,990, $15,000 more than the previously listed price of $99,990.
The company is also accepting trade-ins for the pickup truck, less than 2 years after its initial release. Reports suggest that Tesla is sitting on over $200 million worth of unsold Cybertruck inventory.
Cybertruck Secures 5-Star Safety Rating
In a positive development, the Cybertruck recently secured a 5-star crash test rating from the NHTSA for both the driver and the passenger, an improvement from an earlier rating.
Conclusion
Tesla’s dwindling Model Y inventory and lackluster sales figures pose challenges for the company. However, the Cybertruck’s 5-star safety rating and new lease offers may help boost sales and customer confidence. As the federal EV credit deadline approaches, Tesla must navigate these challenges to remain competitive in the market.