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Tesla has slashed lease prices across most of its electric vehicle lineup in the US to create more demand after the tax credit went away.
With demand in the US pulling forward into Q3 due to the end of the federal tax credit, Tesla had a surge in deliveries, but demand is expected to fall in Q4.
The automaker is now adjusting its prices, starting with leases, to try to drum up demand.
With an overnight update to its online configurator, Tesla slashed lease prices:
- Model 3 (RWD): Dropped by $100 to $329/month (from $429).
- Model Y (Long Range): Dropped by $80 to $449/month (from $529).
- Cybertruck (AWD): Dropped by $50 to $699/month (from $749).
However, the automaker also warns that prices are going to go back up on November 1st:
While Tesla often offers temporary discounts, they often tend to happen toward the end of quarters.
In this case, it appears that Tesla is seeking an earlier boost in demand.
Without the tax credit, most of Tesla’s vehicles have virtually become $7,500 more expensive overnight in the US, which has remained its only healthy large market since a decline in demand in 2024.
Electrek’s Take
$330 per month for a Model 3 RWD is not a bad deal, but there are many good deals in the EV leasing world right now, and I would expect to see even more attractive deals toward the end of the year.
I’m on the market to upgrade my Model 3, but I’m on the lookout for some fire deals, from Tesla or others, toward the end of the year.
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