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Tesla offering 2-year leases on Model S and X cars purchased by September 12

A Tesla Model S with version 7.0 software update containing Autopilot features is seen during a Tesla event in Palo Alto, California October 14, 2015. REUTERS/Beck Diefenbach/Files


Tesla has introduced a new pricing option that should appeal to those holding out on buying either a Model S or X vehicle. For a limited time, the electric car company is providing a 2-year lease program, but only on orders placed by September 12.

Under the terms of this new lease, customers will pay at least $593 per month in estimated payments, which will vary based on the type of Model S or X you get and how many miles you plan on driving it annually. Tesla announced the news in a customer email, claiming that this option is “one of our most popular requests.” It also highlights that customers can combine this lease with its referral program to get $1,000 credit towards their vehicle.

Interestingly, this announcement also touts Tesla’s safety ratings and autopilot feature which has received all sorts of attention. Launched last fall in beta, Tesla’s autopilot capability has come under scrutiny after multiple accidents were reported, not only here in the U.S. but also in China, with regulators poking around and investigating. Also, in April, “about 2,700” Model X SUVs were recalled after it was discovered that they had faulty third-row seat backs. The Model S also has been hit by recalls.

The focus on the Model S and X line could be perceived as an effort to improve sales on Tesla’s earliest vehicles while it seeks to keep up with demand on the new Tesla 3, a model catered to the mainstream consumer. This summer, the company announced two new versions of its Model S sedan which starts at $66,000 in the U.S. and is cheaper than its predecessor. The newer Model S 60 and 60D have less range and a smaller battery pack than the original Model S.

It also comes following Tesla’s poor earnings where it once again reported quarterly losses for the 13th straight time.

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