Automakers jump on Tesla’s brand woes with discount EV offers

Tesla trade-ins in the U.S. are at an all time high as some owners become disillusioned with Elon Musk’s politics, and some just want to avoid their car getting keyed by Musk haters. Automakers are pouncing on the opportunity. Polestar, Lucid Motors, Volvo, and Ford — which have long trailed Tesla in EV sales — have taken advantage of the pushback against the brand by releasing conquest bonuses and incentives that challenge a buyer’s brand loyalty. Shortly after Polestar began offering its $5,000 discount, the automaker’s head of sales Jordan Hofmann said the bonus was already a success. “This week saw some of the highest order days for Polestar 3, and the response to our Tesla Conquest Offer has been incredible” Hofmann wrote on LinkedIn. Most of the offers don’t require buyers to actually trade in their Teslas to qualify, though Joseph Yoon, consumer insights analyst at Edmund, says the trend is certainly pointing towards EV owners making the switch due to the automaker’s recent ... Read full article.