Tesla’s strategy to withhold leased cars for a robotaxi fleet has resulted in selling them instead, reported Reuters.
Initially, Tesla prohibited customers from purchasing leased Model 3 sedans at lease-end, citing the need for an upcoming robotaxi fleet.
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This policy expanded to all models by 2022 but was reversed in November, with the robotaxis never materialising.
Tesla CEO Elon Musk said: “You don’t have the option of buying. We want them back. Next year, for sure we’ll have over one million robotaxis on the road.”
Tesla sold many previously leased cars to new buyers after updating their features via software upgrades.
This move allowed the company to sell the vehicles at a higher price, with one source noting it was a way to “jack up the price” of used cars.
Tesla has leased over 314,000 vehicles, representing 4.4% of its total deliveries.
The no-buy policy was justified by the need for robotaxi supply, signalling to investors that Tesla was nearing fully autonomous driving technology.
This belief contributed to a 1,500% rise in Tesla’s stock since 2019, solidifying its position as the world’s most valuable automaker.
Tesla mentioned in its website in 2019 that: “Customers who choose leasing over owning will not have the option to purchase their car at the end of the lease, because with full autonomy coming in the future via an over-the-air software update, we plan to use those vehicles in the Tesla ride-hailing network.”
Despite the discrepancy between Tesla’s actions and its public statements, the tactic remains legal.
Tesla’s Q1 2025 revenues fell by 20% to $13.97bn from $17.38bn in the previous year, due to factory upgrades for the new Model Y SUV production.
