Tesla will allegedly launch a number of leasing offers for the entry-level Model 3 compact premium sedan.
Electrek received word about the move a couple days ago after eyeing an internal email sent to Tesla employees. The email stated that employees will be able to lease the Model 3 within the next two weeks.
A company spokesperson confirmed that they will soon announce leasing schemes for the Model 3, but failed to provide an exact date when this option will be available to the public.
“This is simply an internal document to ensure teams are prepared for when we eventually introduce a leasing option to customers. No decision has been made about when Model 3 leasing will be available, but it will definitely be after the dates outlined in this document,” stated the spokesperson.
In the past, Tesla had talked about the possibility of rolling out leasing options for the Model 3 but has been reluctant to pull the trigger and, possibly, negatively affect cash flow while potentially adding difficulty to the continued ramp-up of the car’s production. Yet it already offers leasing for the Model S and Model X, so it makes sense to extend that to their entry level model, too.
According to at least one analyst, the launch of a leasing program for the Model 3 may come in response to a decline in demand for the firm’s models following the reduction in the federal tax credits offered for new Teslas.
“While TSLA has meaningfully driven down vehicle unit costs in recent quarters, we have growing concerns regarding top-line results due to combination of moderating sales volume, price reductions and mix,” CHRA analyst Garrett Nelson told CNBC.
Reports about the Model 3 leasing program come just a couple days after the automaker mysteriously deleted any mention of the long-promised, $35,000 Model 3 Standard Battery from its U.S. website.