News Startups

Tesla now announces a ‘Two-year’ lease program for Model S and Model X

tesla-model-s70d
Share on Facebook
Tweet about this on TwitterShare on Google+Share on StumbleUponShare on LinkedInPin on PinterestShare on Reddit

Both of Tesla’s Model S and Model X are automotive beasts in their own sense. The electric car make has already made a mark in the automotive sector with its electric vehicles line-up, uncompromisng on the power front.

But, both the car models – Model S and Model X are expensive. So, the company announced a leasing program around three years ago for both the models. Leasing combines a low down payment and low monthly payments.

Now, the company has introduced a 2-year leasing program for Model S as well as Model X. The price starts at $593 per month under this program for the base model. This new 2-year lease program is available on all Model S and X orders placed by September 12th. The company said:

It’s never been more affordable to experience the exhilarating performance and extraordinary safety of the groundbreaking Tesla Model S sedan and Model X SUV. With the best safety ratings of any car ever built and equipped with driver assistance Autopilot features that steer, change lanes and control speed, Tesla’s zero-emissions vehicles have revolutionized the modern driving experience.

The 60kWh battery model starts at $593/month while the 75kWh model costs around $874 per month. The 90kWh all wheel drive model costs $1115/month while the performance model starts at $1426 per month. The price goes up if you opt for additional features and upgrades.

[dfads params=’groups=-1‘]

Every leased vehicle from the company comes with Tesla’s Happiness Guarantee. So, in any case, if you don’t like your car for any reason within the first 90 days, you can return it and your remaining lease obligation is waived.

In the last quarter, the company achieved a record production of 18,345 vehicles. It delivered 14, 402 new vehicles during the period, out of which, 9764 were Model S and 4638 Model X cars. The company said that they were on track to deliver 50,000 vehicles in the second half of the year.

Even though Tesla is coming up with path breaking technologies and heavy investments, it is yet to make money from it. In the company’s latest earnings call, Tesla performed far lower than the expectations. Its losses jumped to $293 million at $1.06 per share. It earned a revenue of $1.56 billion which was 33% higher than the year earlier. But the operating expenses of Tesla also rose to $512.8 million — an increase of 34% from last year.

Tesla is now consistently manufacturing 2,000 vehicles in a week. It aims to further increase the production and reach 2,400 vehicles per week in the fourth quarter. Notably, Tesla had set a target to deliver 80,000 vehicles this year. However, it has only managed to deliver 30,000 vehicles so far.

[email protected]


Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *