Tesla has reduced the monthly lease price for its Model Y Long Range, marking the latest in a series of incentives aimed at achieving record vehicle deliveries in the fourth quarter of 2024. The automaker, which must deliver over 515,000 vehicles this quarter to set a new milestone, is deploying various strategies to boost demand.
The new lease pricing trims $50 per month from the base lease rate for the Model Y Long Range RWD, aligning it with the lease cost of the Model 3 Long Range RWD, despite the Model Y’s higher purchase price. The adjusted lease terms reflect Tesla’s direct subsidies over a 36-month period, making the popular SUV variant more accessible to consumers.
Globally, Tesla has rolled out additional incentives to drive sales. In Europe, the company is offering a year of free Supercharging alongside significant discounts. In the U.S., incentives include three months of free Supercharging, discounts on inventory, and subsidized interest rates on loans.
Tesla’s recent measures underscore its commitment to achieving growth despite a slower start to the year. Last month, the company reaffirmed its goal of increasing deliveries year-over-year. CEO Elon Musk and his team are focused on capitalizing on strong demand in the final months of 2024 to close the delivery gap from earlier quarters.
With the updated lease pricing and a host of incentives across key markets, Tesla aims to meet its ambitious delivery targets and secure its position as a leader in the EV market.
