Tesla raises lease prices after federal EV tax credit expires

Core Insights - Tesla has increased lease prices for all its vehicles in the U.S. following the expiration of a $7,500 federal tax credit that previously supported electric vehicle sales [1][2] - The increase in lease prices comes after the end of tax incentives that were part of legislation passed by Congress, which eliminated credits for new and used EVs effective September 30 [1][2] - Demand for electric vehicles is showing signs of slowing down, with analysts warning that sales may decline after the removal of these credits [3] Pricing Changes - The monthly lease for Tesla's Model Y has risen to a range of $529 to $599, up from $479 to $529 [2] - Lease prices for the Model 3 have increased to a range of $429 to $759 per month, compared to the previous range of $349 to $699 [2] - Despite the increase in lease prices, the prices of all vehicles remain unchanged [2] Market Share and Competition - Tesla's U.S. market share has dropped to a near eight-year low, accounting for only 38% of total EV sales in August, down from over 80% previously [3][4] - The decline in market share is attributed to consumers opting for electric vehicles from a growing number of competitors [3][4]