Tesla has launched a new LeasyMyTesla program to get more EVs onto Australian roads, in its latest push to boost flagging sales in the country.
The new leasing program is now available through Tesla’s own Australian vehicle configurator and is powered by Driva, a local finance company.
In a LinkedIn post, Thom Drew, Tesla’s Australia and New Zealand country director, said,
“Today, we have taken a huge step toward demystifying Novated Leasing in Australia,” Thom Drew, Tesla’s Australia and New Zealand country director, said in a LinkedIn post.
“Our newly launched LeaseMyTesla program powered by Driva allows us to provide a digital-first customer experience and eliminate unnecessary fees and complexity.
“This initiative makes Tesla vehicles more accessible and affordable for Australian drivers.”
Tesla has for years been the dominant force in the electric vehicle market in Australia, and in its home market in the US, but in October for the first time the Chinese made MG4 took top spot as sales of both the Model Y and the Model 3 continued to flag, with overall Tesla sales down 20 per cent for the year to 32,214.
That has deflated the overall market EV market, despite the success of more low cost models offered mostly by Chinese car companies, and the rollout of more premium models elsewhere.
Looking closer at the program, which can be accessed by clicking “Calculate Financing” on the online Tesla configurator, customers see three options, including a new “Novated Lease” option.
Customers can then enter their pre-tax salary and select the term of the lease. For someone with an income of $80,000 who leases a Tesla Model Y RWD over 60 months, the post-tax leasing payment is $669/month.
This is more affordable than other leasing deals, which see the exact vehicle leased from $250 a week, equating to over $1,000 per month in lease payments.
This includes the $3,000 leasing incentive Tesla already has to help boost its sales in Q4 2024. In other markets, Tesla has also pulled other levers, like offering free supercharging to increase quarterly sales, but that’s yet to be seen in Australia in Q4.
Leasing a vehicle in Australia comes with a few benefits. These are further positives for EVs, with fringe benefit tax exemptions applied to the vehicle and its running costs.
This has helped many drivers make the switch to cleaner electric cars. In a recent study, the leasing industry saw an increase in Tesla and BYD vehicle ownership through this financing path, putting more EVs on the road.
In the first 10 months of 2024, Tesla sold 32,214 vehicles, retaining its title as the country’s leading electric car brand.
With many more EVs coming to market this quarter and in 2025 as well, it’s good to see Tesla looking at ways to keep its sales ahead of other competitors with programs that make it easier for everyday drivers to get behind the wheel of a Tesla.
Riz is the founder of carloop based in Melbourne, specialising in Australian EV data, insight reports and trends. He is a mechanical engineer who spent the first 7 years of his career building transport infrastructure before starting carloop. He has a passion for cars, particularly EVs and wants to help reduce transport emissions in Australia. He currently drives a red Tesla Model 3.