Tesla Inc. (NASDAQ:TSLA) is reportedly running low on inventory of the new Model Y in the U.S. as President Donald Trump's September 30 deadline for $7,500 EV credit looms.
No New Inventory Near Austin
The EV giant has no inventory of new Model Y units within 200 miles of Austin, according to a post shared by influencer Sawyer Merritt on social media platform X on Sunday.
Tesla's official website in the U.S. also says the company has limited inventory of the Model Y, with a single unit available within 200 miles of Los Angeles.
Tesla's Dwindling Sales, $0 Down Lease On Used EVs
The news comes as Tesla has been recording lackluster sales figures in the U.S., as well as in overseas markets like Europe. In what could be a move to offload inventory, Tesla is also offering $0 down leases on its used vehicles, like the Model 3 and Model Y
Meanwhile, Tesla is also offering over 40% in discounts to lease providers in the UK, which could translate into lower monthly payments for customers, as the company recorded a 60% drop in July deliveries in the country.
Tesla Hikes Cybertruck Price In A Surprise Move
Elsewhere, Tesla has hiked the price of the range-topping Cyberbeast trim of the Cybertruck, which now retails for $114,990, $15,000 more than the previously listed price of $99,990.
The company is also accepting trade-ins for the pickup truck, less than 2 years after its initial release, as reports suggest the EV giant is reportedly sitting on over $200 million worth of unsold Cybertruck inventory.
In what could prove to be a boost for Tesla, the Cybertruck recently secured a 5-star crash test rating from the NHTSA for both the driver and the passenger, an improvement from an earlier rating, which only boasted 5 stars for the driver.
Tesla scores well on Momentum and Growth metrics, while offering satisfactory Quality, but poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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