British motorists can now lease a Tesla electric vehicle for just over half the price they would have paid a year ago, according to industry sources cited by The Times.
The move comes after Tesla was forced to offer discounts of up to 40% to UK car leasing companies in a bid to boost sales and clear excess stock. A shortage of storage space for Tesla vehicles in the UK has also added pressure to cut prices.
Sales Decline Hits Tesla in the UK
Tesla’s sales performance in the UK has sharply declined. In July, Tesla sold just 987 units, marking a 60% drop compared to the same month last year, according to data from the Society of Motor Manufacturers and Traders (SMMT).
Overall, UK new car registrations also fell by around 5% year-on-year in July, showing a wider industry slowdown.
Electric Vehicles Maintain Growth Forecast
Despite the slump in Tesla’s sales, the electric vehicle market in the UK continues to grow. Battery electric vehicles are forecast to account for 23.8% of new registrations in 2025, slightly up from the SMMT’s earlier projection of 23.5%.
Tesla did not immediately respond to requests for comment, and Reuters has not independently confirmed the reported discounts.
