Tesla announced on Wednesday that it will be increasing lease prices on several models in the US starting next week.
According to the company’s website, “lease prices [will] increase by up to $80/month on November 4″ for the Model 3 sedan, the Model Y SUV and the Cybertruck.
As first noticed by Tesla shareholder and X user Sawyer Merritt last week, the company’s website started displaying that the price increase would start from November 1.
According to the latest update, the hike has been delayed by three days.
On October 21, the company significantly reduced prices ahead of the upcoming increase.
The Model 3’s lease price dropped to $329 per month, a 23% decrease (or $100 less) from the previous $429.
With the maximum $80 increase announced on Wednesday, the Model 3 will likely be leaseable for up to $409 per month from next week.
The Model Y’s monthly payment was lowered to $449, reflecting an $80 price cut, which may be reversed by November 4.
Meanwhile, the Tesla Cybertruck’s lease price decreased by $50, bringing it down to $699 per month.
The November increase will return leasing prices to roughly the same levels seen in early October, when they were raised after the expiration of the US EV tax credit.
The $7,500 credit could be applied when either buying or leasing an electric vehicle, and could be combined with several other incentives.
By then, the monthly lease for the electric vehicle manufacturer’s best-selling Model Y was hiked to $529–$599, up $50 at the low end (from $479) and $70 at the high end (from $529).
The Model 3 lease ranged from $429 to $759 per month, up $80 at the low end (from $349) and $60 at the high end (from $699).
Since then, Tesla has launched new, more affordable iterations of its best-selling models — the Model Y Standard and the Model 3 Standard, priced from $39,990 and $36,990, respectively.
However, the company does not offer leasing options for the Standard versions of its vehicles. Only the Premium variants are available for lease.
The Model 3 Performance is also included in the leasing program, but the newly released Model Y Performance is not.
Production for the high-performance variant, first introduced in Europe, has not yet begun in the United States.
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.
