EV makers pursues Tesla drivers
Analyst: Incentive programs "a smart play"
By: Eric D. Lawrence
and MArk Phelan
Detroit Free Press
USA Today Network
..... As Tesla deals with the push-back from those opposed to CEO Elon Musk's cuts within the federal government, the electric vehicle-maker's customers are also bring targeted by one of its smaller rivals.
..... Lusury EV Polestar is offering a $5,000 incentive, known as the Polestar Conquest Program bonus, in an attempt to get Tesla owners behind the wheel of a Polestar 3.
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The offer, combined with a Polestar Clean Vehicle Non-cash Incentive of up to %15,000 would garner $20,000 off the lease of a new 2025 Polestar 3, according to the company.
..... A person who answered the phone at the Polestar showroom in Royal Oak, Michigan, said the Tesla bonus would simply be subtracted from the lease total for those eligible, and that all Polestar vehicles qualify for the company's clean vehicle incentive. For reference, the base price to purchase a 2025 Polestar 3 is $73,400, excluding the $1,400 destination charge, the Free Press reported in September. [2024] that's for the long-range dual-motor version stats at $67,500.
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The conquest bonus is available for eligible customers who own or lease a Tesla vehicle, but a trade-in is not required to get the deal, according to Mike Ofiara,a Polestar spokesman.
..... The deal, which launched February 21 [2025] and was extend based on the response, has been positive for Polestar, Ofiara said, noting that "customers handover" (when a customer takes delivery of a Polestar) for the last week of February [2025] were 60% of the monthly total.
..... Ofiar didn't weigh in on a question about why Polestar was targeting Tesla now. The Free Press reached out to Tesla for comment but has not received a response.
..... Even with so much attention on Musk and recent stories about declining sales, however, it;s not clear how vulnerable Tesla is to this kind of targeting. The automaker still has many loyal customers.
.....Polestar is a small brand, selling 44,851 vehicles globally last year, [2024] but in access to Volvo design and engineering and electric motors and batteries developed by the group, helped it gain credibility quickly. It's working to develop a more independent profile.
..... Joseph Yoon, consumer insights analysts for Edmunds, called the Tesla conquest incentive a "smart play by a premium EV brand launching multiple models in the newt few years.