Tesla Prepares to Offer Model 3 Leasing to Boost Demand

Tesla has kept a card against it to create an additional demand for Model 3: Leasing Options.

Electrek has now learned that Tesla is preparing to launch its leasing products for Model 3, as indicated in an e-mail sent to employees.

Sources close to the file told Electrek that Tesla had sent an email to employees this week to let them know that they could rent model 3 in the next two weeks.

We contacted Tesla about the email sent to employees regarding the new Model 3 rental program and the company confirmed that it was preparing it, but the dates in the email are not final.

A spokesman for Tesla told Electrek in a statement:

"It's just an internal document to ensure team readiness when offering a leasing option to customers. No decision has been made as to when the leasing of Model 3 will be available, but it will certainly be after the dates indicated in this document. "

Tesla Rental Cash

Over the past year, the automaker has considered leasing to stimulate demand for Model 3, but has been hesitant to offer the financial product during the production phase in order not to negatively affect its cash flow. .

Chief Executive Officer Elon Musk said in Tesla's latest earnings call:

"Well, we were reluctant to introduce leasing on Model 3 because of the effect of its effects on our GAAP financial statements. It should therefore be noted that the demand to date is zero-credit. So, obviously, leasing is a way to improve [Model 3] but the financial situation of our society seems worse. "

Musk said they did not want to submit the Model 3 lease "right now", but it will be available "later this year."

Electrek's Take

The timeline in the email seemed to indicate that the leasing program would be launched in the coming weeks, but Tesla insists that it will actually be launched at a later date, despite the content of the document.

This is logical since Tesla would not want leases to affect their financial statements in the current quarter.

I think it will be a big demand engine for Tesla.

There is no detail on its location, but I hope it will only be in the United States at first.

It will also be an interesting product for Tesla employees. The introduction of Model 3 has allowed a greater number of them to own a Tesla, but it is still a somewhat expensive vehicle.

I think more of them will be able to drive Tesla vehicles with the introduction of model 3 leasing and that is why they also give them priority.

Chief Financial Officer Deepak Ahuja said leasing accounts for only about 20% of S and X model sales.

In a way, I think the number will be higher for model 3.

What do you think? Let us know in the comment section below.

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