Toronto, Ontario — This week, Driven Brands celebrates two years since going public with a guest appearance At Nasdaq and Tesla drops its Canadian prices again.
Two years public
Driven Brands celebrated two years since it first went public in a big way, with group president and executive vice president of paint, collision and glass Michael Macaluso helping to close the NASDAQ trading day last Friday.
“Proud to have been in NYV representing the 2,000 locations in the Paint, Collision and Glass business segment at DRVNand the thousands of employees and franchisees we have,” Macaluso wrote on LinkedIn.
Teslas get a trim
Tesla slashed its prices globally on Jan. 12, in what analysts are calling an effort to increase demand after the OEM missed its delivery target for 2022.
Price cuts have been noted in the North American, European, Middle Eastern, Asian and African markets.
In Canada, the Model Y has the biggest price cut, dropping to $69,990 from $85,000—a 17 percent drop. The base-trim Model S has seen a nine percent drop; the base-trim Model 3 and Model X have seen Canadian prices cut by eight percent.
For American buyers, the lowered prices and accompanying federal EV credit—which, with the discounts, Tesla now qualifies for—could result in discounts of up to 30 percent. Reuters said the U.S. price cuts on top-selling models, the Model 3 and Model Y, were between six percent and 20 percent.
Market analyst Dan Ives told Global News he thinks the move could increase global deliveries by between 12 percent to 15 percent.