Tesla, Inc (TSLA) Tries To Pump Up Sales of its Most Expensive Cars

Tesla, Inc (NASDAQ:TSLA) is taking advantage of its phasing-out tax credit by encouraging buyers to purchase its most expensive model.

Tesla’s sophisticated electric cars are expensive to produce, and to turn a profit the company is using creative tactics to boost sales. A full, $7,500 tax credit is only available to consumers who order the vehicle by October 15th, to whom Tesla guarantees their vehicles will be delivers by the end of 2018.

The Motley Fool provides details:

However, many reservation holders may not be able to afford even the cheapest Model 3 variant currently in production. While there are hundreds of thousands of outstanding reservations, Tesla has been allowing nonreservation holders to order the Model 3 versions currently in production (essentially skipping the line) since July. Nevertheless, the lead time has shrunk to a maximum of four weeks for rear-wheel-drive models and eight weeks for dual-motor models.

Tesla’s Model 3 dual-motor all-wheel drive variants are more expensive than rear-wheel drive counterparts. Tesla hopes to boost sales of their most expensive vehicles by pressing consumers with the deadline.

Tesla, Inc shares were trading at $259.59 per share on Monday afternoon, up $0.81 (+0.31%). Year-to-date, TSLA has declined -16.62%, versus a 4.20% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of D (Sell), and is ranked #10 of 25 stocks in the Auto & Vehicle Manufacturers category.