Tesla Offering $7K Discount On Model Y? Investor Says 'Nothing Has Recently Changed'
Portfolio Pulse from Rounak Jain
Tesla Inc. (NASDAQ:TSLA) is reportedly offering significant discounts on its Model Y SUVs to address its largest-ever stockpile, despite claims from an investor that these discounts have been in place since last year. The company produced 46,561 more vehicles than it delivered in Q1, leading to an inventory increase. Tesla's stock has been declining, with a 3.2% drop to $165.48 at the time of publication.
April 05, 2024 | 6:19 pm
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Tesla Inc. offers significant discounts on Model Y SUVs amid a record inventory buildup, with its stock price falling 3.2% to $165.48.
The reported discounts on Model Y SUVs are a direct attempt by Tesla to manage its unprecedented inventory levels. This strategy, coupled with the investor's claim that such discounts are not new, suggests a continued effort to boost sales amid production exceeding deliveries. The immediate impact on the stock price, a 3.2% drop, indicates a negative short-term investor reaction, possibly due to concerns over demand or profit margins.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100