Tesla offers discounts in Canada/Mexico, raising demand concerns
Tesla is now offering a $5,000 CAD/$74,750 MXN credit on Model 3 and Model Y vehicles purchased in Canada and Mexico before the end of this year. It’s a rare instance of Tesla offering discounts, and could be a sign of softening demand in North America.
The move comes just after Tesla increased the year-end discount to $7,500 in the neighboring US.
Tesla refers to the discount as a “credit” on their site, though the accompanying “Learn More” link merely describes the specifics of the recently announced supercharger credit, available since December 15, and omits any specifics about the credit:
Tesla is offering free Supercharging credits* — up to 10,000 kilometers of driving—for customers who take delivery of a new Tesla vehicle between December 15 and December 31, 2022. Free Supercharging will be credited to your Tesla Account in the month of January 2023 and will remain valid for a period of two years from your delivery date.
But inventory car prices do not show this credit as being applied already, as seen in the screenshot below:
The middle car, at $59,990 CAD, shows the same price as a custom-order configured car with the same base model specs. So inventory cars can expect an additional $5,000 CAD discount beyond the listed pricing on the website, but we don’t know exactly how that “credit” will be applied. You’ll have to ask your Tesla salesperson for the specifics.
The Canadian and Mexican discounts are almost identical to Wednesday’s additional US discount. Both convert to roughly $3,750 USD, which is the amount Tesla raised the US discount by.
In the US, this discount was largely thought of as a response to changing EV tax incentives. It had previously been expected that Teslas would qualify for $3,750 in EV tax credits next year due to the Inflation Reduction Act, but the Treasury announced Monday that they are delaying new rules, which means Teslas will now qualify for $7,500 in tax credits at least until some time in March. As a result, buyers might delay purchase for a few weeks to get new tax credits, so if Tesla wants to sell cars now, it makes sense to offer a temporary discount.
But Canada and Mexico do not have a similar tax credit change coming at the start of the year, so the discount in those territories must not be associated with that. Which means this could be a signal that Tesla sees a less-crowded order book than usual in this holiday season, and needs to spur interest by dangling a rare carrot in front of buyers.
Tesla often has end-of-quarter and end-of-year pushes for deliveries, shifting employee focus to delivering cars for the last few weeks of a quarter in order to finish out strong with high numbers. The company has stated for years that they would like to stop doing end-of-quarter delivery pushes, but that effort never really materialized and the company continues the practice basically every quarter.
These pushes usually materialize in the form of an all-hands motivational e-mail (with gratuitous use of the word “hardcore”) from CEO Musk, but he’s a little distracted from Tesla at the moment. Tesla also occasionally offers perks like free supercharging to get customers in the door at the end of the year. But now, we’re seeing a rare instance of Tesla offering discounts on their vehicles to motivate buyers to come in.
Tesla vehicles have received several price increases over the last year, likely due to increased supply chain costs and generally soaring EV demand overall. With EV supply being lower than demand, prices of many EVs have gone up.
But the auto market is finally starting to stabilize in the last few months, with new and used car prices starting to flatten out from their previous upward trend.
So this new discount doesn’t make up for this year’s price increases, but at least it’s a reversal of the recent trajectory of Tesla prices. That said, it is only temporary – or maybe it’s a sign that Tesla’s price increases have gotten a little overzealous and the company may need to correct in the opposite direction as a result of softening demand in North America.
Electrek’s Take
As Fred mentioned in his Take for Tesla’s original $3,750 US discount, Tesla has never really had trouble with demand, and has never needed to offer discounts as a result. He mentioned that his sign for waning Tesla demand would be when Tesla starts offering discounts.
The US discounts seem like a response to tax credit changes, and could be explained away thusly.
But this discount can’t be explained away as a response to changing government incentives. It doesn’t apply to Europe or Asia, only to North American cars, which incidentally are all produced in the same North American factories. It seems likely that Tesla may have too much NA inventory and wants to get some of it off their hands, and turned into cash, before it shows up on balance sheets at the end of the fiscal year.
Or maybe Tesla wanted to align pricing across territories – but if so, then why no discount in Europe, and why only $3,750 USD (equivalent) and not $7,500?
The move also comes amid falling popularity for the brand due to CEO Elon Musk’s recent shenanigans.
This could be a sign that Tesla demand, which has consistently risen at incredible rates for so many years, might at least be rising less quickly than it previously has.
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Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.
Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.
The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.
For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.
Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.
Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.
“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.
The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.
Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.
“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.
Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.
Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.
Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.
It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.
Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.
With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.
Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.
The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.
An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.
OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.
“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.
“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.
The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.
“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”
Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.
“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”
SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.
Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.
The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.
WATCH: Watch CNBC’s full interview with Robinhood CEO Vlad Tenev
Korean auto giants Hyundai and Kia think lower-priced EVs will help minimize the blow from the new US auto tariffs. Hyundai is set to unveil a new entry-level electric car soon, which will be sold alongside the Kia EV2. Will it be the IONIQ 2?
Hyundai and Kia shift to lower-priced EVs
Hyundai and Kia already offer some of the most affordable and efficient electric vehicles on the market, with models like the IONIQ 5 and EV6.
In Europe, Korea, Japan, and other overseas markets, Hyundai sells the Inster EV (sold as the Casper Electric in Korea), an electric city car. The Inster EV starts at about $27,000 (€23,900), but Hyundai will soon offer another lower-priced EV, similar to the upcoming Kia EV2.
The Inster EV is seeing strong initial demand in Europe and Japan. According to a local report (via Newsis), demand for the Casper Electric is so high that buyers are waiting over a year for delivery.
Hyundai is doubling down with plans to introduce an even more affordable EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, said during a recent interview that “The new electric vehicle will be unveiled in the next few months.”
The new EV is expected to be a compact SUV, which will likely resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and other global regions in 2026.
Hyundai is keeping most details under wraps, but the expected IONIQ 2 is likely to sit below the Kona Electric as a smaller city EV.
More affordable electric cars are on the way
Although nothing is confirmed, it’s expected to be priced at around €30,000 ($35,000), or slightly less than the Kia EV3.
The Kia EV3 starts at €35,990 in Europe and £33,005 in the UK, or about $42,000. Through the first half of the year, Kia’s compact electric SUV is the UK’s most popular EV.
Like the Hyundai IONIQ models and Kia’s other electric vehicles, the EV3 is based on the E-GMP platform. It’s available with two battery packs: 58.3 kWh or 81.48 kWh, providing a WLTP range of up to 430 km (270 miles) and 599 km (375 miles), respectively.
Hyundai is expected to reveal the new EV at the IAA Mobility show in Munich in September. Meanwhile, Kia is working on a smaller electric car to sit below the EV2 that could start at under €25,000 ($30,000).
According to the report, Hyundai and Kia are doubling down on lower-priced EVs to balance potential losses from the new US auto tariffs.
Despite opening its new EV manufacturing plant in Georgia to boost local production, Hyundai is still expected to expand sales in other regions. An industry insider explained, “Considering the risk of US tariffs, Hyundai’s move to target the European market with small electric vehicles is a natural strategy.”
Although Hyundai is expanding in other markets, it remains a leading EV brand in the US. The IONIQ 5 remains a top-selling EV with over 19,000 units sold through June.
After delivering the first IONIQ 9 models in May, Hyundai reported that over 1,000 models had been sold through the end of June, its three-row electric SUV.
While the $7,500 EV tax credit is still here, Hyundai is offering generous savings with leases for the 2025 IONIQ 5 starting as low as $179 per month. The three-row IONIQ 9 starts at just $419 per month. And Hyundai is even throwing in a free ChargePoint Home Flex Level 2 charger if you buy or lease either model.
Unfortunately, we likely won’t see the entry-level EV2 or IONIQ 2 in the US. However, Kia is set to launch its first electric sedan, the EV4, in early 2026.
Ready to take advantage of the savings while they are still here? You can use our links below to find deals on Hyundai and Kia EV models in your area.
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As EVBox shuts down its Everon business across Europe and North America, EV charging provider Blink Charging is stepping up to offer support to customers caught in the transition.
EVBox’s software arm Everon recently announced it’s winding down operations alongside EVBox’s AC charger business. That’s left a lot of charging station hosts and drivers wondering what comes next. Now, EVBox Everon is pointing its customers toward Blink as a recommended alternative.
Blink says it’s ready to help, whether that means keeping existing chargers up and running or replacing aging gear with new Blink chargers.
“EVBox has played a significant role in the growth of EV charging infrastructure across the UK and Mainland Europe, and we recognize the trust hosts have placed in its solutions,” said Alex Calnan, Blink Charging’s managing director of Europe. “With the recent announcement of Everon’s withdrawal from the EV charging market, it’s natural to have questions about what this means for operations. At Blink, we want to assure Everon customers that we are here to help them navigate this transition.”
Blink says it’s able to offer advice, replacements, and ongoing network management to make the changeover as smooth as possible.
Everon users who switch to Blink will get access to the Blink Network portal via the Blink Charging app. That opens up real-time insight into charger usage and lets hosts set pricing, manage users, and download performance reports.
“At Blink, our charging technology is future-ready,” added Calnan. “With advancements like vehicle-to-grid technology on the horizon, our chargers are built to support the future of electric vehicles and charging habits.”
The company says its chargers are in stock and ready to ship now for any Everon customers looking to make the jump.
In October 2024, France’s Engie announced it would liquidate the entire EVBox group, which it said posted total losses of €800 million since Engie took over in 2017. EVBox is closing its operations in the Netherlands, Germany, and the US.
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