Tesla (TSLA.O) is anticipated to report record vehicle deliveries after raising discounts and incentives to boost sales amid economic uncertainties and rising competition.
This weekend, Refinitiv expects Tesla to report 445,000 global April-June deliveries. Last quarters 422,875 was up 5%.
Elon Musk’s goal of significantly increasing sales this year is hampered by aging and limited product lines as competition develops, notably in China, and demand decreases.
Tesla’s January price cuts affected first-quarter profitability. It has raised discounts but not prices recently. In the second quarter, it raised inventory discounts to $1,600–$7,500, making all Model 3s eligible for $7,500 tax credits in June.
Tesla sent an email this week, “The Most American-Made Cars Are S3XY,” guaranteeing three months of Supercharging to Model 3 purchasers who take delivery by June 30, 2023.
Tesla’s second-largest market, China, gave an insurance subsidy of 8,000 yuan ($1,104) to buyers of inventory Model 3s from June 16 to June 30. A Tesla analyst predicts record sales in China.
“I think China was a little bit better than expected and so there might be room for a little bit of a positive surprise there,” said Tesla stockholder Globalt Investments senior portfolio manager Thomas Martin.
Tesla has cut temporary workers, skipped Saturday shifts at its Berlin production, and offered savings in Europe.