Tesla has cut leasing costs for its electric vehicles in Britain by nearly half to regain market share against growing competition from Chinese brands. Monthly payments for a Model 3 are now just over £252 plus VAT, while the Model Y can be leased for under £400. The company's registrations have dropped by 60% year-on-year, resulting in a market share reduction to 0.7%. Despite lower sales figures, Tesla continues to lead in the used EV market, with a strong presence in consumer demand.
Tesla has almost halved the cost of leasing its electric cars in Britain, with monthly payments on a Model 3 starting as low as £252 plus VAT.
Industry sources say Tesla has been forced into ad hoc discounts of up to 40% to leasing companies to stay competitive while facing sliding sales.
Tesla's registrations in the UK fell by 60% in July year-on-year, pushing its market share down to 0.7%.
Despite the slide, Tesla remains dominant in the used EV market, where one in four sales is still a Tesla.
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