Tesla Model Y has seen a surge in orders in the United States, and is already sold out halfway through this quarter.

According to reports, despite being only halfway through the quarter, Tesla’s Model Y in the United States has been sold out and production won’t begin until April.

With a significant price drop and the new $7,500 federal tax credit for electric vehicles, Tesla’s orders in the United States have surged. Currently, insiders reveal that the Model Y is Tesla’s best-selling model, and the Model Y’s production capacity has been completely used up this quarter.

After reducing the price of the base Model Y by $13,000 at the beginning of the month and then raising it by $1,500, the automaker has now updated its timeline for the Model Y to “Estimated delivery: April to June 2023.”

Meanwhile, new Standard Range Model 3 vehicles can still be manufactured and delivered this month with an estimated delivery time of “February to March 2023.” Despite continuing to lower the price of the Model 3 since a sharp drop in early January, Tesla is thought to be facing issues with selling Model 3 vehicles.

One factor helping Tesla sell Model 3 and Model Y vehicles this quarter is the full tax credit for vehicles, but it is still unknown whether vehicles delivered beyond March will still be eligible for the full tax credit. Updated battery procurement guidelines are forthcoming and automakers will begin to understand if they qualify.

In addition to the $7,500 federal tax credit, Tesla buyers in California can also receive an additional $2,000 incentive. In 2022, Tesla delivered nearly 200,000 electric vehicles in California, but there is still room for growth, with electric vehicles making up only 16% of new passenger cars sold in California.

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.