Tesla Model Y 0.99% APR Offer Ending May 31st, 2024 in the United States
Tesla introduced a 0.99% APR for the Model Y after disappointing Q1 delivery results. Inventory levels for the Model Y have surged since February 2024 due to a global slowdown in EV sales . This weak demand is attributed to a struggling economy, high inflation, and reduced government incentives for EVs.
To counteract this, Tesla is offering low APR rates in key markets, some as low as 0%. Here’s a list of current low APR offers by country:
- Chile: Model 3/Y at 1.39%
- Japan: Model 3/Y at 0%-0.99%
- Australia: Model Y at 1.39%
- Germany: Model Y LR/PF at 1.39%
- Sweden: Model Y LR at 0.74%
- China: Model 3/Y at 0% or 0 Down Payment
- United States: Model Y at 0.99%-2.99%
In the United States, the 0.99% APR offer for the Model Y ends on May 31st, 2024. Given that similar offers in other countries extend to June 31st, 2024, there’s potential for an extension in the US as well.
The low APR is effectively reducing Model Y inventory in the US . However, Tesla is facing increased inventory levels for the Model S, Model X, and Model 3, nearing the high levels of Q3 2023 when it had to slash prices across models. This suggests Tesla might extend the low APR offer to other models, as it has been successful for the Model Y. You can check Tesla inventory level here.
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