Tesla has launched a new LeasyMyTesla program to get more electric cars onto Australian roads, in its latest effort to boost sagging sales in the country.
The new leasing program is now available through Tesla’s Australian vehicle configurator and is operated by Driva, a local finance company.
In a post on LinkedIn, Tom Drew, Tesla’s country manager for Australia and New Zealand, said:
“Today, we took a big step toward demystifying innovative leasing in Australia,” Tom Drew, Tesla’s Australia and New Zealand director, said in a LinkedIn post.
“The newly launched LeaseMyTesla program powered by Driva allows us to provide a digital-first experience for customers and eliminate unnecessary fees and complexity.
“This initiative makes Tesla vehicles more accessible and affordable for Australian drivers.”
For years, Tesla has been the dominant force in the electric car market in Australia, and in its home market of the United States, but in October, for the first time, the Chinese MG4 took the top spot in sales for both the Model Y and Model 3. Tesla sales continued to decline, with an overall decline Tesla sales rose 20 percent for the year to 32,214 vehicles.
This has led to a contraction in the overall electric car market, despite the success of more low-cost models offered by mostly Chinese car companies, and the introduction of more premium models elsewhere.
Looking more closely at the program, which can be accessed by clicking “Finance Account” on Tesla’s online configurator, customers see three options, including a new “New Lease” option.
Customers can then enter their pre-tax salaries and choose the lease length. For someone with an income of $80,000 who leases a Tesla Model Y RWD over 60 months, the after-tax lease payment is $669 per month.
This is less expensive than other leasing deals, which see the exact vehicle rented for $250 per week, which equates to more than $1,000 per month in lease payments.
This includes a $3,000 leasing incentive that Tesla already has in place to help boost its sales in the fourth quarter of 2024. In other markets, Tesla has also pulled other levers, such as offering free Supercharging to boost quarterly sales, but this has yet to be seen in Australia in Q4.
Renting a car in Australia comes with some benefits. These are further positives for electric vehicles, with additional tax credits applying to the vehicle and its running costs.
This has helped many drivers switch to clean electric cars. In a recent study, the rental industry saw Increase in Tesla and BYD car ownership Through this funding stream, more electric vehicles will be put on the road.
In the first ten months of 2024, Tesla sold 32,214 cars, maintaining its title as the country’s leading electric car brand.
With more electric cars hitting the market this quarter and in 2025 as well, it’s good to see Tesla looking for ways to keep its sales ahead of other competitors through programs that make it easier for everyday drivers to get behind the wheel of a Tesla.
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Rees is the founder of Melbourne-based carloop, which specializes in Australian electric vehicle data, insights and trend reports. He is a mechanical engineer who spent the first seven years of his career building transportation infrastructure before starting Carloop. He has a passion for cars, especially electric cars, and wants to help reduce transport emissions in Australia. He currently drives a red Tesla Model 3.
