Elon Musk’s electric vehicle company, Tesla, is currently facing a rough patch as its car sales have declined in various countries, with Europe witnessing the steepest drop. According to a report by Autoblog, this dip in sales has prompted Tesla to introduce several attractive offers to lure new customers.
Celebrity Protests and Controversy
Tesla’s troubles are compounded by rising criticism from some celebrities who are protesting Musk’s political involvement in the United States. Some Tesla owners have taken to placing stickers on their cars expressing dissatisfaction. One notable sticker reads, “I bought this car when we didn’t know about Elon’s craziness.” In extreme cases, some individuals have even resorted to vandalizing Tesla showrooms.
Special Offers to Boost Sales
In response to the sales slump, Tesla has rolled out a range of incentives. These include zero percent interest loans and lifetime free Supercharger access. Additionally, Tesla is offering exceptionally low-interest rates on select vehicles to attract potential buyers.
Cybertruck Struggles
Tesla’s recently launched Cybertruck has faced sluggish sales. To encourage buyers, Tesla is offering a special loan rate of 1.99% exclusively through Tesla financing for this vehicle.
Free Lifetime Charging Facility
Tesla is also offering free lifetime access to its Supercharger network for select models. With over 60,000 Supercharger stations worldwide, these fast-charging stations can add approximately 322 km (200 miles) of range in just 15 minutes. This incentive significantly reduces the operational costs of Tesla vehicles, which are already known to be more cost-effective than traditional gasoline or diesel cars.
Zero Percent Interest Loan for Model 3 Buyers
For customers purchasing the new Tesla Model 3, the company is offering zero percent interest loans for those with a credit score of 700 or higher. Even if buyers choose not to claim the $7,500 federal tax credit, they can still secure a loan at an attractive 0.99% interest rate.
Sharp Decline in Sales Figures
Tesla’s sales have experienced a sharp downturn across several markets:
- Germany: Sales dropped by 76% in February.
- Netherlands: Recorded a 24% decline.
- Sweden: Sales fell by 42%.
- France: Faced a 45% decrease.
- Italy: Sales dropped by 55%.
- Spain: Recorded a 10% decline.
- Portugal: Witnessed a 53% drop.
- Australia: Tesla’s registrations declined by 66% in February.
- China: Tesla’s worldwide exports from China plummeted by 49%.
Plans for Expansion in India
Despite these setbacks, Tesla is actively preparing to enter the Indian market. The company has secured showroom space in Mumbai and has begun recruitment efforts in the country. However, negotiations between the US and India regarding import tariffs are still unresolved. While the US is pushing for reduced taxes on imported electric vehicles, India remains hesitant to eliminate such tariffs.
