Tesla Inventory Spikes: Uncovering Deals, Discounts, and Predictions for 2024

Hey everyone, DennisCW here! Welcome back to another update on all things Tesla. Today, we’re diving deep into some exciting (and somewhat concerning) news about Tesla inventory levels going absolutely parabolic. We’ve got massive spikes across almost every model, intriguing discounts, and some predictions for what’s coming down the line in 2024. Let’s break it all down!

Tesla Inventory Levels: Parabolic Increases Across the Board

If you’ve been keeping an eye on Tesla’s inventory lately, you’ve probably noticed something wild—inventory levels are spiking like never before. We’re seeing huge increases for nearly every Tesla model:

• Model 3: A staggering 400% increase.
• Cybertruck: Up by 100%.
• Model S: A 217% jump.
• Model X: A more modest but still significant 38% rise.

The only model not showing these crazy numbers? The Model Y. Tesla seems to be hiding exact inventory levels for this one, with only about 258 units currently visible. Are they holding back numbers to manage perception, or is there something else at play? We’ll keep digging into this, but for now, it’s clear that Tesla’s got a lot of cars sitting on lots.

These inventory levels are the highest we’ve seen in the past three months, and they’re a strong indicator of why we’re starting to see some incredible deals and financing offers pop up. High inventory often equals better incentives for buyers, and Tesla knows it.

Model 3: 0% Financing and Massive Discounts

Let’s zoom in on the Model 3, which is currently the star of the show when it comes to deals. Tesla recently introduced 0% interest financing for 60 months, and I predict this offer will stick around until at least the end of June. Why? Because with inventory levels this high, they need to move these cars fast.

On top of that, we’re seeing some hefty discounts on Model 3 variants:

• Model 3 Performance: Up to $5,600 off.
• Model 3 All-Wheel Drive: Discounts of up to $2,700.
• Model 3 Rear-Wheel Drive: Savings of up to $1,400.

And here’s the cherry on top—these discounts are before applying a Tesla referral code, which can get you three months of Full Self-Driving (FSD) for free. If you’re in the market for a Model 3, now might be one of the best times to buy.

Model S, Model X, and Cybertruck: Discounts and Challenges

While the Model 3 is stealing the spotlight, other Tesla models aren’t being left out of the discount game. Both the Model S and Model X are showing inventory increases, with maximum discounts of up to $9,500 off on select units. However, there haven’t been significant changes to their financing offers yet.

The Cybertruck, on the other hand, is in a bit of a weird spot. Inventory for this futuristic truck has skyrocketed, but Tesla seems to have pulled back on some of the leasing options that made it appealing. Previously, you could stack an $8,000 discount with a $7,500 leasing credit on a 2024 Cybertruck AWD, but those deals have vanished. With inventory continuing to climb, I’m predicting we’ll see some aggressive incentives soon—potentially 0% financing or even 1.99%-3.99% rates on Cybertruck, Model S, and Model X by the end of the year.

Model Y: Hidden Inventory and Demand Concerns

The Model Y remains a bit of a mystery. While Tesla isn’t fully transparent about inventory levels, we’re starting to see small discounts and financing offers like 1.99% APR. However, demand seems to be cooling off. Recent posts on X and reports suggest that even with the refreshed Model Y, organic demand hasn’t picked up as expected. Some analysts are pointing to broader demand issues for Tesla vehicles globally.

My advice? If you don’t need a Model Y right now, hold off. I expect bigger incentives—potentially 0% financing or free Supercharging for a limited period—by Q3 or Q4 (think August to December). Tesla often saves the best deals for the end of the year, especially during the holiday push.

Tesla Sales and Market Context

Here’s a sobering stat: Tesla sales in the US fell by 5.7% in 2024, even with all these incentives, while the overall passenger vehicle market grew by 2.8% and other battery electric vehicles (BEVs) surged by 27%. This suggests Tesla is facing stiffer competition and may need to double down on affordability and brand image to regain momentum.

As one X user, James, pointed out, Tesla might be looking to release less expensive vehicles to address both low demand and excess supply. Whether this strategy works will depend on pricing, vehicle features, and how Tesla positions itself in the coming months.

Safety and Reliability: Tesla Stands Strong

Amidst all the talk of inventory and deals, let’s not forget one of Tesla’s biggest strengths—safety. A recent post showed a Model Y involved in a severe accident with a bus, and the car held up remarkably well. It’s a reminder that Teslas are among the safest vehicles on the road. Knock on wood, none of us will need to test this out, but it’s reassuring to know Tesla’s got your back in a worst-case scenario.

Protect Your Credit Before Financing

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Tesla Accessories: Must-Haves for New Owners

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• A phone mount to keep your device secure during acceleration.
• A center console organizer to avoid losing your stuff.
• An underscreen storage mount for sunglasses and small items.

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I’m also loving 3W Liners for all-weather floor mats. They’re my top pick after trying multiple brands, and I’ve got them in my Model 3, Model Y, Model X, and Cybertruck. Use my promo code to save 25% and get a set for under $100 while supporting the channel.

Community Questions and Predictions

I love hearing from you all in the livestream chats! Here are some highlights and my thoughts on your questions:

• Model Y Performance Release: Rumors suggest a potential November launch, but even if it comes sooner, deals might not appear for another couple of months after release. If you’re waiting, you might be looking at a 4-6 month timeline for a good offer.
• 0% Financing on Model Y or Cybertruck: I’m 99% sure we’ll see 0% financing on Model Y by year-end, and there’s a strong chance (70%) of significant Cybertruck discounts or 0% APR as inventory continues to climb.
• Best Time to Buy: Historically, Q4 (October-December) offers the best deals. Unless inventory suddenly drops, I expect this trend to hold for 2024.

Got more questions or thoughts? Drop them in the comments below or join our super-secret Discord (link in the description) to chat about early deals and insider tips with the community.

Final Thoughts: Should You Buy Now or Wait?

With inventory levels spiking and incentives like 0% financing on Model 3 and 1.99% on Model Y, it’s a great time to buy if you need a Tesla now. However, if you can wait, I strongly believe we’ll see even better deals by the end of Q3 or Q4. Tesla’s demand challenges and growing competition might push them to offer unprecedented discounts or perks like free Supercharging or extended FSD trials.

What do you think? Are you jumping on these current deals, or are you holding out for something bigger? Let me know in the comments, and don’t forget to hit that like button and subscribe for more Tesla deal-hacking content. If you want to ask me a question directly, join my Patreon group (link below) for exclusive access.

Thanks for tuning in, and I’ll see you in the next one!

-DennisCW