Tesla Tacks on Extra Discounts to Woo German Company-Car Buyers

As the competition in Europe’s electric car market heats up, Tesla is offering extra discounts to German company-car buyers to promote its electric vehicles. Company cars often make up a significant portion of new car sales in Germany, making it a key market for automakers to focus on. The new offer includes a EUR 4,000 ($4,666) discount on Tesla models, with an additional EUR 1,500 ($1,749) reduction for buyers who register their vehicles by the end of the year. Tesla’s competitive pricing reflects a wider push in the electric vehicle space, which has seen increased demand in the wake of the COVID-19 pandemic due to greater environmental awareness and a shift towards remote working. Over the past several years, the market for electric and hybrid vehicles has grown significantly in Germany, in part propelled by the country’s big carmakers. However, with Tesla’s impressive sales record and brand recognition, the California-based company is looking to conquer a bigger share of the market. The move also reflects the company’s broader strategy of expanding globally, with the objective of becoming a mass market electric vehicle maker. Despite some ups and downs along the way, the electric vehicle maker has continued to make progress, reaching a market value of around $460 billion in 2020. As such, this latest effort to tap into one of Europe’s biggest auto markets is expected to help Tesla boost its overall market share and sales. With the automotive industry’s shift towards electric vehicles, there’s no doubt that Tesla’s moves in Germany will be closely watched by the likes of BMW, Mercedes-Benz, and Volkswagen.