Tesla’s recent offer of a free month trial for its Full Self-Driving (FSD) package to all North American owners has yielded a disappointing conversion rate, with only about 2% of participants opting to purchase or subscribe to the feature, according to credit card data.
The trial, which started in March, coincided with a price reduction for the FSD package from $12,000 to $8,000, or $99 per month for the subscription model. This pricing adjustment came as a surprise, as CEO Elon Musk had previously indicated that Tesla would continue to increase the price of FSD as the technology improved.
Despite the release of the new v12 version of the FSD system, which represents a significant advancement, Tesla’s efforts to boost adoption rates through the trial and price reduction have not been as successful as hoped.
YipitData analyzed credit card data from approximately 3,500 Tesla owners who participated in the trial and found that only around 50 of them chose to purchase or subscribe to FSD afterward, resulting in a conversion rate of less than 2% as of May 5th. This data suggests that Tesla drivers are taking a cautious approach when it comes to paying for subscriptions to the company’s autonomous driving technology.
In response to the low conversion rate, Elon Musk has instructed Tesla employees who deliver cars to provide a demonstration of FSD with every delivery. This move is aimed at improving the uptake of the feature among Tesla owners.
