Tesla to reimburse customers for tax credits on late shipments
27 December, 2018, 08:42 | Author: Sara Gill
Of course, but there's a potential problem: because of a major tax overhaul passed by the U.S. government, tax credit incentives are only available for the first 200,000 vehicles sold by the automaker.
In China, Tesla is adopting an aggressive campaign to push the Model 3 to its ever-growing electric vehicle market.
Responding to a question about what happens if a pre-December order for a Tesla doesn't get delivered in 2018, Musk said the following: "If Tesla committed delivery & customer made good faith efforts to receive before year end, Tesla will cover the tax credit difference".
Tesla shares were up almost 2 percent in premarket trading on Wednesday, pushing its market value to more than $50 billion. Ives, meanwhile, focused Wednesday on opportunities in Europe. Elon Musk in October said the company was "excited to bring Model 3 to Europe and China early next year, given that the market for mid-sized premium sedans in those regions is even larger than in North America".
Looking ahead to the next year, analyst Dan Ives believes that Model 3 demand remains robust and that consumers are growing more interested in the mass market EV as demand for bulkier cars like SUVs slows down.
"Most people don't know that the Tesla Supercharger network makes it easy to travel long distance in the U.S., most of Europe, Canada and China", wrote Musk, attaching a map of recharging points.
At the time of writing this article, Tesla shares were trading at $300.90, sharply down from the December 13th peak of $376.79 and well below the conversion price of $358.87. Elon Musk said the deadline is 2020 for generation however has not yet said where it will be created whether in the USA or China.
The price of the Model 3 Dual Motor All-Wheel Drive has been cut from 540,000 yuan (US$ 78,302) to 499,000 yuan while the Model 3 Performance is 35,000 yuan cheaper, with the new price set at 560,000 yuan.
Strong demand for Model 3 in the fourth quarter of 2018 and first quarter of 2019 will help Tesla improve its cash flow. In November, Tesla cut the prices of its Model X and Model S cars by 12 to 26 percent.
Tesla's stock has gone down 5% this year, closing at $295.39 yesterday.
Tesla will reveal its fifth vehicle, the Model Y in March of 2019.
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