U.S. stocks lower as investors rotate out of tech ahead of Jackson Hole
Investing.com-- Tesla Inc (NASDAQ:TSLA) is offering discounts of up to 40% to car leasing firms in the UK to shore up sliding sales, The Times reported on Monday, as Elon Musk’s electric vehicle maker grapples with a rapidly shrinking market share across the globe.
The discounts– which are passed on to customers through cheaper monthly payment plans– are also due to a lack of storage space for Tesla vehicles, The Times reported, citing industry sources.
A Tesla Model 3, the company’s most popular car, can now be leased for as low as 252 pounds plus VAT for a 36-month contract, the report said. This compares to monthly payment plans of as high as 600 to 700 pounds a year ago.
While Tesla has still not slashed the headline price of its electric vehicles, it is offering zero interest finance deals to customers, which could cost the EV maker about 6,000 pounds over three years for a 40,000 pound vehicle, the UK said.
Tesla’s aggressive pricing and discounts come as the EV maker grapples with a prolonged decline in global sales.
A bulk of this decline has been centered around the UK and Europe, with the company facing stiff competition from Chinese EV offerings in both regions.
Tesla’s European sales have also suffered due to increasing public ire towards the political actions of Musk, in particular his ties to the alt-right. Tesla saw attacks on its facilities and sales boycotts in Europe through most of 2025.
Tesla’s UK sales slumped 60% in July, while China’s BYD Co (HK:1211) overtook the company in terms of market share.