Tesla Offers Incentives on Model Y Leases at Juniper Location to Increase Sales Volume
Tesla introduces revised lease and financing options for the Model Y, seeking to invigorate sales of its top-selling electric vehicle.
The Long Range Rear-Wheel Drive and Long Range All-Wheel Drive Model Y versions are now available with a reduced initial payment of $1,000 on leases, a decrease from the previous $3,000 on Tesla's website. The Long Range RWD is now $459 per month with $1,000 down, while the Long Range AWD is $499 per month with the same initial payment. This offer lasts until June 16, and the terms consist of a 36-month agreement with an annual mileage limit of 10,000 miles. The total upfront cost does not include taxes and fees, as well as the "due at signing" amount. Monthly lease payments are typically lower compared to auto loans, according to Experian.
In addition to the lease opportunity, Tesla is offering Model Y Long Range AWD financing at 1.99% APR through June 16. This deal requires a minimum down payment of 15% plus applicable taxes and fees. Eligible customers can apply their $7,500 federal tax credit towards the down payment, as announced by Tesla. Elon Musk, the CEO, has emphasized multiple times during earnings calls that affordable monthly payments play a significant role in boosting sales.
Q1 deliveries for the Model Y, the most popular electric vehicle in the U.S., decreased sequentially to 64,051 units, down from 85,506 in Q4 of the previous year, representing a 25% drop, according to an estimate provided by Cox Automotive. This decline was anticipatory as consumers delayed purchases to await the 2026 Model Y, which began volume deliveries in April. Additionally, Tesla temporarily halted Model Y production during factory retooling.
Musk reported during a recent CNBC interview a resurgence in demand for Tesla products. He attributable the first-quarter slowdown to a global factory changeover for the Model Y that necessitated temporary shutdowns across the world. The Model Y is poised to play a key role in the rollout of the unsupervised Full-Self Driving service, also known as "Robotaxi," in Austin, Texas in June. Initial deployments will involve a limited Tesla-owned Model Y fleet operating within geofenced areas, similar to Waymo's service. Musk anticipates rapid scaling-up of the service.
Sources:
- Tesla official website
- Tesla press releases
- CNBC interview with Elon Musk
- Car and Driver
- Tesla earnings calls
- The revised lease and financing options for the Tesla Model Y, a top-selling electric vehicle, are aimed at invigorating sales in the automotive industry and broader transportation sector.
- In an effort to make the Tesla Model Y more affordable, the company is offering reduced lease payments and competitive financing rates, encouraging potential buyers in the finance sector.
- With the introduction of the Tesla Model Y, the electric vehicle industry is witnessing technology advancements in transportation, particularly in the development of unsupervised Full-Self Driving services like "Robotaxi."
