Tesla introduces cheaper Model Y leasing offer

Tesla is tweaking its offers for both leasing and financing in order to boost the flagging sales of its electric cars. In China, Tesla is now offering a five-year, zero-interest financing incentive for the Model Y, which will apply to “customers who buy any variant of the Model Y before June 30.” In the USA, a discount has been introduced in the form of a loan with “1.99% APR or $0 Due at Signing available for well-qualified buyers.” This follows another recent discount for Model Y owners, which saw a $2,000 direct discount for “early Model Y owners.” Electrek cites this as proof for poor demand for the vehicle, but further adds: “It’s not as bad as Europe and China, where Tesla has already been offering 0% financing on the new Model Y for weeks.”

In Germany, the Model Y in the entry-level version with rear-wheel drive is now available for a leasing instalment of €499 per month for a term of 48 months and a maximum annual mileage of 10,000 km, with no down payment. Alternatively, those who prefer a financed purchase will receive a reduced borrowing rate of 1.99 per cent when purchasing all variants of the new Model Y, according to a statement from Tesla’s German headquarters. This debit interest rate applies for a maximum term of 60 months. The purchase price itself is at least 45,970 euros.

Tesla is also making a similar offer for the Model 3, which is currently priced at 40,970 euros in Germany. The electric sedan (with rear-wheel drive) is now available for leasing for a term of 48 months and up to 10,000 annual kilometres for 429 euros per month – also without a down payment. Alternatively, anyone wishing to purchase the model will receive a guaranteed borrowing rate of 0.99 per cent on all variants. A maximum term of 60 months also applies here.

According to Tesla, these special conditions apply to vehicle deliveries until 30 June 2025 and cannot be combined with other discounts or offers. Tesla justifies the offers with the successful factory conversion for the construction of the new model generation: “Following the successful conversion of the production lines in all factories to the new Model Y, including the Gigafactory Berlin-Brandenburg, Tesla wants to further simplify access to sustainable mobility for a larger target group in Germany. New favourable financing options for the new Model Y and Model 3 will help accelerate the transition to sustainable energy,” writes the manufacturer.

As is well known, Tesla’s latest sales and business figures were sobering. In the first quarter, the manufacturer had to digest a 71 per cent drop in profits. This was mainly due to poor sales: between January and March, Tesla reportedly only produced 362,615 vehicles and handed over 336,681 cars to customers. Both are clearly below average. Tesla’s production fell by 16.3 per cent in Q1 and by as much as 21 per cent compared to the fourth quarter. The picture is similar for deliveries (-13% YoY, -27% compared to Q4/2024). The last time Tesla reported such low vehicle figures was in the second quarter of 2022.

Source: Info via email, tesla.com (Model Y), tesla.com (Model 3),´electrek.co (USA), cnevpost.com (China)