Elon Musk: Tesla will make Model 3 leases available from 2019
Tesla CEO Elon Musk has said in a recent statement that the automaker has plans underway to make its immensely popular Model 3 electric car available for lease in the next ‘6 to 9 months.’
With a lease for the Tesla Model 3 presently not available, the only way to the purchase the vehicle is to book it, and then purchase it outright or with a loan. However, Musk has recently revealed that the scenario is likely to change from 2019 onwards, when the automaker will start offering Model 3 leases.
The key focus of Tesla Motors at present is to ensure that it achieves profitability after years of investment in the Model 3 production program. With the program having resulted in a substantial increase in Tesla’s overall production capacity, the automaker is currently focused on Model 3 versions with the highest margin.
As such, Tesla is currently producing only the Long Range battery pack, although it soon plans to commence the production of the more expensive All-Wheel-Drive Dual Motor and Performance versions.
Highlighting the fact that the Model 3 production program requires Tesla to put up the money upfront which has an adverse impact on the automaker’s cash flow, Musk said that the option to make Model 3 available for lease from next year will be a significant move which plays into the company’s overall Model 3 production strategy.
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Tesla Motors has managed to improve Model 3 production numbers in the recent weeks and Elon Musk has been closely watching production of the mass-market electric vehicle from Tesla.