Just hours after the federal EV consumer tax credit expired, Tesla has raised the leasing prices for its models in the United States.
According to the company’s website, the monthly lease for the electric vehicle manufacturer’s best-selling Model Y has increased to $529–$599, up $50 at the low end (from $479) and $70 at the high end (from $529).
The Model 3 lease now ranges from $429 to $759 per month, up $80 at the low end (from $349) and $60 at the high end (from $699).
In the past two months, leasing prices for both the Model Y and Model 3 have been updated by Tesla several times.
Tesla enthusiast and shareholder Sawyer Merritt said on X last month that the company would be increasing leasing prices by $50 per month for the Model 3 and $80 per month for the Model Y from September 21.
In August, it had also raised the leasing prices for its standard Model Y, with the monthly rate going up by $50 to $399 (up from $349) for a 36-month contract with a $3,000 down payment.
Up until September 30, customers could rely on the $7,500 tax credit when either buying or leasing an electric vehicle, which could be combined with several incentives by the brand, as the discount was directly applied on the vehicle’s pricing.
To qualify for the credit, customers who purchased a vehicle only needed to place their order by September 30.
However, leased vehicles had to be ordered and delivered by September 30 to be eligible.
With the end of the third quarter, a $4,000 credit for used EVs when purchasing a new Tesla also ended.
Tesla‘s Model 3, which was revamped in late 2023, is priced from $42,490 in the United States, and prices from the recently refreshed Model Y SUV start at $44,990.
On late Tuesday, just hours before the EV tax expired, Tesla introduced the Model Y Performance in the US — a month after it was released in several European markets.
The new version is priced from $57,490.
With the newly introduced ‘Luxe Package,’ the revamped Model S starts at $94,990 with the Plaid version beginning at $109,990, while the Model X is priced from $99,990 for the All-Wheel-Drive, while the Plaid version begins at $114,990.
The Cybertruck, to which the package was also applied, starts from $79,900.
Tesla is expected to report quarterly delivery figures and production numbers on Thursday (October 2).
