Zero interest loans, lifetime free charging: Tesla grappling to get new customers

As Tesla sales record a massive dip globally, the Elon Musk-owned company is pulling all strings to retain and attract new customers. According to a report in Autoblog, the perks that the world’s largest automobile company by market capitalisation is offering vary depending on the model.

These perks arrive as celebrities relinquish their EVs in a rebuff of Tesla CEO Elon Musk’s involvement in the U.S. government, owners are branding their vehicles with “I bought this before we knew Elon was crazy” stickers, and others have even been setting fire to cars on Tesla lots or opening fire on dealerships.

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Tesla’s perks for customers

Tesla is struggling to sell existing stock of Cybertruck, which Musk had launched with much fanfare. To help attract buyers, Tesla is offering a 1.99% interest rate on loans for Cybertrucks financed through Tesla.

Additionally, the company is also offering free access to Tesla Supercharger for the life of the vehicle or till the time the owner uses the car. There are 60,000+ Superchargers globally which can recharge the Tesla EVs for running up to 200 miles in just 15 minutes.

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Giving lifetime free access to Superchargers drastically reduces the operating cost of Tesla EVs, which already claim to have operating costs less than traditional internal combustion engine (ICE) vehicles.

Apart from these, if a Tesla customer is willing to apply for a $7,500 federal tax credit on a new Model 3, the company is offering zero percent interest loans for “well qualified” buyers. For Tesla, “well qualified” buyers include those with credit scores of 700 and above.

If the “well qualified” customer does not wish to avail the tax break, they can still get a 0.99% loan.

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Why is Tesla offering the perks?

The company’s sales in Germany fell by 76% in February, data showed, while its sales in Netherlands fell 24% and in Sweden, they fell by 42%. Meanwhile, Tesla recorded a 48% dip in sales in both Norway and Denmark, 45% drop in France, 55% drop in Italy, 10% in Spain and 53% in Portugal, official data showed.

Outside Europe, Australia reported a 66% drop in Tesla registrations in February while the brand’s worldwide sales of cars produced in China were down 49% due to intense pressure from Chinese rivals.