Tesla is introducing incentives and discounts to boost sales as its sales decline, offering deals for various customer groups and subsidized interest rates.
The company is actively reaching out to past leads and offering discounts to Lyft drivers in an effort to stimulate demand, as it faces challenges amid a competitive EV market.
Despite improvements in quality and service for models like Model 3 and Model Y, Tesla's sales have been impacted by CEO Elon Musk's controversial statements, making the brand less appealing to some buyers.
While Tesla benefits from being exempt from major tariffs and offers cost savings for owners through lower fuel costs and tax credits, its aggressive sales strategies midway through the quarter highlight the intense competition in the EV industry.