Tesla Inc (NASDAQ:TSLA) said on Tuesday that the company's 0% interest loan offer in North America on Model 3, Y will end mid-December.

What Happened: "0% APR for new Model 3/Y in the US will end on 12/15," Tesla announced in an X post on Tuesday.

"Order now and take delivery by 12/31," Tesla further urged.

The 0% interest loan offer is aimed at hiking deliveries in the last quarter of 2024.

For the full year 2023, Tesla delivered 1,808,581 vehicles around the globe. To mark a growth over last year, the company has to deliver at least 514,926 vehicles in the three months through the end of December.

Why It Matters: Tesla has never managed to deliver over 500,000 EVs in a quarter to date, making this an ambitious target.

In the third quarter, Tesla reported deliveries of 462,890 vehicles, up 6.4% year-over-year and up 4.3% quarter-over-quarter.

Deliveries fell 8.5% year-on-year in the first quarter and by 4.8% in the second quarter.

According to Tesla researcher Troy Teslike, Tesla might not touch its global delivery target this year owing to the drop in sales in the U.S. and Europe despite the rise in China.

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Photo courtesy: Tesla