Tesla raises lease prices as U.S. EV tax credit expires
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Tesla Inc. announced on Wednesday that it has raised lease prices for all its vehicles in the United States following the expiration of a federal electric vehicle (EV) tax credit that had been a key driver of demand. The lease price adjustment follows the removal of the $7,500 Federal incentive on new EV leases and purchases, as well as the $4,000 credit for used EVs, effective September 30. The Biden administration introduced incentives to boost the adoption of battery-powered and hybrid EV vehicles. Trump’s administration policy changes were scrapped, leaving automakers to reassess their lease prices. Tesla increases Model Y’s lease prices Tesla, along with its competitors in the U.S., has been passing credits on to consumers through reduced car prices and lease offers. However, the companies are adjusting their lease prices upward in response to the removal of the credits, although sticker prices remain unchanged. The Model Y’s monthly lease has risen to $529–$599, up from the previous range of $479–$529. The Model 3 lease price has also increased from $429–$759, up from the previous range of $349–$699. The changes underscore the higher cost of entry for consumers without the cushion of federal support. According to Cox Automotive data, Tesla’s U.S. market share fell to 38% in August, marking the lowest record in almost eight years. The previous peak recorded was an 80% share. Rivals, including BYD of China, General Motors, and Hyundai, have expanded their automotive models, offering customers more options. Tesla’s European performance has been mixed. Sales rose for the first time this year in France and Denmark, where Model Y became the best-selling car. Norway’s automotive industry also experienced a rise in sales, with the Model Y and Model 3 ranking among the best-selling electric vehicles. However, Tesla has struggled in the Swedish market, registering a…
Filed under: News - @ October 1, 2025 2:28 pm