- Tesla increased lease prices for its Model Y and Model 3 vehicles in the United States after the expiration of a federal EV tax credit.
- Monthly lease rates for the Model Y now range from $529 to $599, up from the earlier $479 to $529.
- The Model 3’s lease ranges from $429 to $759 per month, previously $349 to $699.
- Tesla introduced the Model Y Performance variant with a starting price of $57,490, but it is not available for lease.
- Analysts expect Tesla to deliver around 441,500 vehicles in Q3, while some independent trackers forecast up to 481,000.
Tesla has raised lease prices on its popular Model Y and Model 3 electric vehicles in the United States. The adjustment follows the end of a federal tax incentive for new electric vehicle purchases on September 30.
According to a Reuters report, the monthly lease price for the Model Y now falls between $529 and $599, compared to the previous range of $479 to $529. Similarly, lease fees for the Model 3 have increased to $429–$759, up from $349–$699. These price changes came just after the expiration of the $7,500 federal tax credit for new EV buyers, which had reduced purchase costs through September 30.
Tesla also launched the Performance edition of the Model Y SUV, starting at $57,490. This top-tier version is available for purchase only and cannot be leased, according to a company announcement.
Market reactions were mixed, as Tesla shares traded about 1% lower in the pre-market session on Wednesday. Online retail sentiment shifted from ‘bullish’ to ‘neutral’ within a day, based on message volume observed at the time.
The company is scheduled to report third-quarter delivery figures on Thursday. Analysts estimate that Tesla will report deliveries of around 441,500 vehicles for Q3, which is above the first two quarters this year but below the 462,890 vehicles delivered in Q3 last year, according to Reuters. However, delivery tracker Troy Teslike projects a figure as high as 481,000.
So far this year, Tesla stock has climbed by 10%, and has increased 72% over the last twelve months.
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