Tesla has introduced a $6,500 lease credit for U.S. customers as the federal electric vehicle (EV) tax credit expires, even as the automaker raises monthly lease prices for its Model 3 sedan and Model Y SUV by up to 11 percent.
The Model Y, previously leased for between $479 and $529 per month, now costs up to $599, while the Model 3 lease ranges from $429 to $759, up from $349 to $699. All prices assume a $3,000 deposit and a 36-month lease term. Tesla noted on its website that the amounts include the $6,500 lease credit, effectively offsetting most of the $7,500 federal incentive that is no longer available.
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“Order does not guarantee eligibility,” the company added, indicating that not all lessees will qualify for the bonus. The changes follow the expiration of the federal EV tax credit, which had supported demand for electric vehicles across the United States.
Industry analysts said Tesla’s move reflects a broader trend among automakers seeking to maintain sales after the incentive ended. Ford Motor and General Motors have introduced programs to extend savings from the expired tax credit for select leases over the coming months.
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While the discount may help preserve customer interest, Tesla’s profit margins are likely to be affected. The company’s adjustments underscore the challenges facing EV makers as federal support diminishes and leasing costs rise.