TESLA, Idaho — Tesla Motors Inc. has a guaranteed second-home deal on hand, offering $400 to buyers who have a secondhand car for less than $1.
It’s a deal that could benefit the carmaker’s struggling electric-vehicle business, which has fallen from a high of $50 billion in revenue in 2017 to less than one-tenth of that this year, according to its latest quarterly report.
Tesla is offering the guarantee to buyers of its Model S and Model X electric cars, according a post on the company’s blog, and to owners of secondhand vehicles from other automakers.
Tesla Motors’ second-party guarantee includes warranties on both the vehicle and the warranty coverage on the vehicle’s parts, said Matti Lahtinen, Tesla’s chief marketing officer.
Tesla offers this guarantee on the vehicles that the consumer has purchased, he said.
Lahtinen declined to provide additional details about the guaranteed second home.
Tesla has said that the Guaranteed Second Home Guarantee offers a second-life warranty that covers both the warranty and the second-world-travel portion of the car’s purchase price.
The second-best selling Tesla Model S is a $60,000 vehicle.
Tesla is also offering $200 in cash incentives to buyers to sign up for the Guarantee Second Home program.
Tesla says it’s committed to increasing the number of Guaranteed Third Party Guaranteed Guaranteed Contracts in the future, and its second-guess-the-value Guaranteed third-party car guarantee is another way to make sure that customers are getting value for their money.
Tesla also offers a Guaranteed Lifetime Guarantee, which offers a $50,000 car to a customer with a second hand vehicle for a certain amount of time.
The company also offers Guaranteed First-Year Guarantee for a new vehicle, which guarantees a $25,000 purchase price for a year.
Second-hand cars have become more popular in the past few years as consumers look to save money and save on car insurance.
The new car buyers have been attracted by a growing demand for more environmentally friendly vehicles that are smaller and lighter, and a growing number of third-hand vehicles available for purchase.
But the car industry has been plagued by an increase in accidents and recalls due to the high demand for second-rate cars, with some carmakers seeing their brands slipping from their high profile products.