Tesla Inc. (NASDAQ:TSLA) raised monthly lease prices across its U.S. Model 3 lineup, reversing part of the aggressive discounting it introduced this spring as the electric-vehicle maker prepares to report second-quarter results.
Model 3 Lease Rates Jump Sharply
"Tesla has increased Model 3 lease pricing in the U.S. by up to 15%," Tesla enthusiast Sawyer Merritt wrote Tuesday on X, citing the company’s online configurator.
The base rear-wheel-drive Model 3 rose 15.2% to $379 per month from $329. The Premium RWD climbed 14.3% to $399, while the Premium AWD increased 6.7% to $479. The Performance version rose 5% to $629 from $599.
Tesla had cut the base Model 3 lease to $299 in April before lifting it to $329 in June. At the new rate, a 36-month lease would carry $2,880 more in monthly payments than April’s offer, excluding taxes, fees, down payments and other charges.
The increase may shift the calculation toward buying for some shoppers, particularly because Tesla has not reported corresponding changes to Model 3 cash prices. Tesla’s leasing tool notes that final payments depend on mileage, term, down payment and customer eligibility.
Benzinga reached out to Tesla seeking confirmation of the price increase, but did not receive an immediate response.
Model 3 Lease Rates Jump Sharply
The move follows Tesla’s May price increases across several Model Y trims. The Premium RWD and Premium AWD each rose $1,000, while the Performance version gained $500, marking Tesla’s first U.S. Model Y increases since 2024.
Tesla’s U.S. store also lists its Wall Connector home charger at $465, before installation. Tesla estimates that installing home-charging equipment or a new 240-volt outlet can cost roughly $750 to $1,500, depending on the property.
Record Deliveries Set Stage For Earnings
The pricing reset comes after Tesla delivered a record 480,126 vehicles during the second quarter, up 25% from a year earlier and well above the company-compiled analyst estimate of 406,024.
Tesla will report earnings on Wednesday after the closing bell. Its company-compiled consensus forecasts $27.58 billion in revenue, GAAP earnings of 36 cents per share and adjusted earnings of 55 cents.
Investors will watch whether stronger deliveries and firmer pricing can offset heavy spending on robotaxis, artificial intelligence and the Optimus humanoid. Reuters reported that analysts expect negative free cash flow of about $3.3 billion for the quarter, putting Tesla’s ability to fund those projects under fresh scrutiny.
According to Benzinga Edge Rankings, Tesla stock scores well on the Growth metric, but offers poor Value. It also fails to provide a favorable price trend in the Short, Medium and Long term.
Price Action: Tesla shares were up 0.91% to $372.94 during pre-market trading on Tuesday.
Image via Shutterstock
Login to comment