REGISTRATIONS for electric vehicles may have shot up in August – up 377.5% year-on-year – but it seems Tesla’s Model 3 has followed suit.
Prices have gone up to £35,000 basic list price as of Friday, September 13, 2019 – putting an additional £80 per month on a Tesla Model 3 PCH lease deal.
Demand for the Tesla Model 3 has been significant, no doubt assisted by attractive lease deals.
In May, when the model landed in the UK, it immediately became the most the most popular electric vehicle to lease. The electric saloon outshone new electric models such as the Audi e-tron and Jaguar I-Pace, according to leasing portal Leasing.com.
In August the Tesla Model 3 was the third best-seller in the Society of Motor Manufacturers and Traders (SMMT) registration charts. It even outsold the Ford Focus.
But this price change could cool demand.
“We became aware of the issue on Monday morning when a Fleet Procure broker tried to run a quote for a Model 3 on our system,” explained Lee Jones, managing director, Fleet Procure.
“Clearly a price rise had gone through without notification. According to our price listings this is the third change in the basic list price for the Model 3 in four months. The 2018 pre-order price was £34,625 in June, before moving downwards to £33,325 on August 16. As of today, it’s £35,000. No doubt that’s a decision on Tesla’s part to throttle back on demand,” added Lee.
Broker News could find no official Tesla confirmation of the price change.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
