Automotive

Tesla’s Price Cuts and Lincoln’s EV Dealers

Tesla is looking for more buyers, and Lincoln is updating dealerships to sell EVs at some unnamed point in the future.
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Tesla’s Price Cuts and Lincoln’s EV Dealers
tesla price cuts

Tesla has gone on the offensive by cutting prices across the globe. Price cuts of up to 20% follow 2022's delivery estimate shortcomings and its worst year as a company. Musk commented that cutting the "embarrassingly high" prices should sustain growth amid recession talk and rising interest rates.

Tesla is trying to give OEMs a black eye, but it's dealers in the ring. Time to brush up on your jab, hook, and uppercut.

Lincoln says 60% of its US dealers have committed to EV certification. The ~360 dealers represent 88% of the luxury vehicle company's US sales volume. The brand's EV program requires dealers to invest as much as $900K in charging equipment. Lincoln currently sells no EVs but has four planned to release by 2026, with a goal of 90% of US sales being electric by 2023.

This seems more like an RSVP than a practical change since… you know… there are no Lincoln EVs to sell yet.

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