British motorists can now lease a Tesla electric vehicle for just over half of what they would have paid a year ago, The Times reported on Monday, citing industry sources.
Tesla has been forced to offer discounts of up to 40% to car leasing companies to shift more units, the report said.
The discounts are also due to the lack of storage space for Tesla vehicles in the UK, the report said.
Reuters could not immediately confirm the report. Tesla did not immediately respond to a Reuters request for comment.
Tesla’s July sales in the UK fell about 60% to 987 units in July, according to the latest data from the Society of Motor Manufacturers and Traders (SMMT).
British new car registrations overall fell about 5% year-on-year in July, according to the SMMT.
Battery electric vehicles are now projected to account for 23.8% of new registrations in 2025, slightly up from SMMT’s previous forecast of 23.5%.
—Gnaneshwar Rajan, Reuters
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