Tesla (TSLA) Offers 40% Leasing Discounts to Bolster Europe Sales

Tesla, Inc. (NASDAQ:TSLA) is one of the top 10 stocks to buy now according to Cathie Wood. On August 17, the company moved to shore up its market share in the UK and Europe by offering steep discounts to leasing firms.

The electric vehicle giant is offering up to 40% in discounts to leasing firms. The discounts come as the company grapples with shrinking market share amid stiff competition from Chinese electric vehicles. The discounts will be offered to customers through more affordable monthly payment plans.

Consequently, a Tesla Model 3 is to be offered for as low as £252 plus VAT for a 36-month contract. It will provide a significant discount compared to monthly plans that require customers to pay between £600 and £700.

Tesla hasn’t reduced the sticker price of its electric vehicles, but it is now offering zero-interest financing to buyers. According to UK estimates, this incentive could cost the company around £6,000 over three years for a vehicle priced at £40,000.

Tesla, Inc. (NASDAQ:TSLA) is a sustainable energy company focused on designing, developing, manufacturing, and selling electric vehicles. It also develops and sells energy generation and storage products, as well as solar energy systems.

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Disclosure: None. This article is originally published at Insider Monkey.