Tesla has introduced a new pricing option that should appeal to those holding out on buying either a Model S or X vehicle. For a limited time, the electric car company is providing a two-year lease program, but only on orders placed by September 12. Under the terms of this new lease, customers will pay at least $593 per month in estimated payments, which will vary based on the type of Model S or X they get and how many miles they plan on driving it annually. Tesla announced the news in a customer email, claiming that this option is “one of our most popular requests.” The email also says that customers can combine this lease with Tesla’s referral program to get a $1,000 credit toward their vehicle. Interestingly, this announcement also touts Tesla’s safety ratings and autopilot feature, which has received all sorts of attention. Launched last fall in beta, Tesla’s autopilot capability has come under scrutiny after multiple accidents were reported, not only here in the U.S. but also in China, with regulators still poking around and investigating. Also, in April, “about 2,700” Model X SUVs were recalled after it was discovered that they had faulty third-row seat backs. The Model S has also been hit by recalls. The focus on the Model S and X line could be perceived as an effort to improve sales on Tesla’s earliest vehicles, as the company seeks to keep up with demand for the new Tesla 3, a model catering to the mainstream consumer. This summer, the company announced two new versions of its Model S sedan, which starts at $66,000 in the U.S. and is cheaper than its predecessor. The newer Model S 60 and 60D have less range and a smaller battery pack than the original Model S. The announcement follows Tesla’s recent poor earnings report, in which the company reported losses for the 13th straight quarter.
Tesla has recently launched a new lease programme for EV enthusiasts, offering a shorter lease period of two years, compared to the three-year lease programme previously offered, apparently in response to “numerous” clients who requested shorter leases so they can keep up with driving the newest models. The company also announced that it will be increasing its fleet size from 100 cars at launch to 200 by 2021, and is looking into ways to increase production capacity as well.