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Tesla’s Model 3 is the first EV to make top 10 leased vehicles list

(Credit: Tesla)

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The Tesla Model 3 has made it onto a list of the top 10 most-leased vehicles in the U.S., becoming the first electric vehicle (EV) to do so.

According to new Experian data in a report from Automotive News, Tesla’s Model 3 sedan became the seventh-most commonly leased vehicle in the U.S. in the second quarter. Demand for the electric sedan was largely propelled by price cuts and EV tax credits. At the top of the list were the Ford F-150, the Honda CR-V and the Nissan Rogue.

The Model 3 accounted for just 1.79 percent of new vehicles that were leased in the quarter, and as many as one in four Model 3 sales were on lease for a 14-point increase from last year’s Q2. The top three leasing vehicles, the F-150, CR-V and Rogue, made up a combined share of 7.26 percent of all new leased vehicles.

Credit: Automotive News

Melinda Zabritski, senior director of automotive financial solutions at Experian, says it isn’t typical for a car like the Model 3 to make this list, adding that it’s usually comprised of higher-volume vehicles with leases.

“In the EV space, there is so much change and so many new models coming out that leasing can be a good way to have the vehicle for a short period of time,” Zabritski said. “An EV lease is a great way to avoid any of those ownership concerns that consumers might have.”

According to Automotive News, the leasing rate for the Model 3 surpassed the overall new vehicle lease rate of 21.3 percent, as well as the EV lease rate, which landed at roughly 21.2 percent. Zabritski notes that current lease rates are still far below peak levels achieved in 2018 and 2019 when the overall leasing rate jumped over 30 percent.

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The news of the Model 3’s inclusion on the most leased vehicles comes as Tesla prepares a $1.8 billion lease securitization process this week. The process will entail Tesla bundling up several of its auto leases to be sold off as bonds, generating an alternative source of funding without the automaker needing to wait until lease money trickles in.

Some think that Tesla may also use the funding to create even shorter-term leases than it currently offers.

Earlier this year, Tesla also debuted a new seven-year financing option in addition to its three-, four-, five- and six-year leases.

Tesla reduces Model 3 inventory prices in the U.S.

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.

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Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

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Elon Musk commends Tesla team on successful Robotaxi launch

Tesla CEO Elon Musk commended the company on the successful launch of Robotaxi.

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NORAD and USNORTHCOM Public Affairs, Public domain, via Wikimedia Commons

Tesla CEO Elon Musk commented on the company’s launch of the Robotaxi platform, which officially went live to a small group on Sunday in Austin, Texas.

It is the first time Tesla has offered driverless rides through the ride-hailing platform it has worked to activate for several years, and it was overwhelmingly successful based on early reviews.

The launch was coupled with the release of the first-ever looks at the Tesla Robotaxi app, which does more than allow riders to summon vehicles for transportation. It also allows the rider to adjust climate settings in the car before it arrives for a comfortable ride, and it will sync entertainment and streaming settings to keep occupants entertained.

Tesla Robotaxi riders tout ‘smooth’ experience in first reviews of driverless service launch

The first rides are being performed with a safety monitor in the passenger’s seat. These monitors have no control over the vehicle, and are there just to ensure smooth operation.

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The first reviews called rides “smooth” and “comfortable,” and commended Tesla for its hard work over the past few years to make this happen. Many were impressed with the cars’ ability to keep pedestrians safe, avoid congested parking lots, and the efficiency of the rides, as the time from the ride request to the Robotaxi accepting the ride was extremely fast.

Musk has been at the forefront of this operation for a decade, as Tesla has been working to release a version of the Robotaxi through the development of Full Self-Driving. This has been an effort that included seeking top-tier engineering talent and taking incredible leaps of faith, including switching to a Vision-only approach for Full Self-Driving.

Musk commended the Tesla team for its hard work:

It’s truly an incredible accomplishment, as many considered Robotaxi a “failure” despite it not even being rolled out. In May, we reported on media outlets calling the Robotaxi rollout a total failure, despite Tesla always maintaining the launch would happen in June:

Tesla Robotaxi deemed a total failure by media — even though it hasn’t been released

Hundreds of rides have already been taken, and there have not been many complaints. It’s an incredible jump forward for Tesla.

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Tesla Robotaxi riders tout ‘smooth’ experience in first reviews of driverless service launch

The first reviews of Tesla Robotaxi are in, and those riders are impressed and astounded with the smooth and comfortable nature of the service.

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Credit: Joe Tegtmeyer | X

Tesla Robotaxi riders are touting their awesome experiences in their first rides using the automaker’s new driverless ride-hailing service, which launched to a limited number of people yesterday for the first time.

On Sunday, Tesla officially launched Robotaxi, its driverless ride-hailing service, in downtown Austin. A select group of people were chosen to receive early access to the program, as well as the new Robotaxi app, which is used to request a ride and will sync everything from climate preferences to streaming settings with each pickup.

Tesla officially launches Robotaxi service with no driver

Teslarati gained access to the Early Access riders program and the Robotaxi app, giving us a first-hand look at the experience. We will be in Austin soon to test out the Robotaxi fleet for ourselves.

However, those who were there for the initial rides on Sunday had nothing but great things to say. Hundreds of rides were taken during the first hours of the Robotaxi program, and neither the company nor the riders reported any issues.

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Here’s what people said about their experiences:

  • “Extremely smooth stops,” and great awareness of road conditions, including pedestrians, speed bumps, and busy parking lots, were all handled with ease:

  • Safe navigation around pedestrians who walked just off the sidewalk into the road:

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  • “Just as good as it is during the daytime” at night. There were no changes to report by riders who took rides during the day and evening:

  • Avoided expensive and stressful parking at local tourist hotspots like Terry Black’s Barbeque:

  • “Comfortable and similar to existing Tesla cars with FSD,” intuitive and “surreal” experience:

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  • The app is quicker than other ride-sharing services. When a destination is chosen, Robotaxi is already on the way to your location:

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Tesla Robotaxi rollout proves that Elon Musk still delivers, even if it’s late

Tesla is also still the company that makes the impossible feel late.

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Credit: Tesla

It took a long time, but Tesla has finally successfully rolled out its dedicated Robotaxi service in Austin this weekend. The initial rollout only involved a small fleet of cars operating in a small geofenced area in Texas, but it is still significant. 

It does, if any, prove that Elon Musk is still capable of delivering on his promises, even if they are late. Tesla is also still the company that makes the impossible feel late.

Finally, a Rollout

Elon Musk has been predicting a Robotaxi rollout for years, so much so that even avid Tesla supporters have grown quite wary of his constant predictions. After a while, Elon Musk himself admitted that he has become the boy who cried FSD, though he still maintained that self-driving was really just around the corner.

This past weekend, Musk’s predictions finally came true. Actual paying customers used Tesla’s dedicated Robotaxi service for a small flat fee of $4.20 per ride. Elon Musk seemed quite happy with the Robotaxi’s initial launch, as evidenced by his congratulatory message to the Tesla AI team on X.

https://twitter.com/elonmusk/status/1936876178356490546
https://twitter.com/aelluswamy/status/1936865682810946035

No More Tesla Vision Debates

One thing that is evident in Tesla’s initial Robotaxi rollout in Austin was the fact that the debate surrounding Tesla’s vision-only approach is completely gone now. With actual Robotaxis operating around Austin, there are no more questions about whether cars can navigate city streets on their own using only AI and cameras. They can, and safely too, at least based on Tesla’s initial fleet of Robotaxis.

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https://twitter.com/ItsKimJava/status/1936927640268484909
https://twitter.com/SawyerMerritt/status/1936997202880081950

The Beauty of Normalcy

The Robotaxi rides from Tesla owners who were fortunate enough to experience the first driverless rides from the EV maker’s fleet were quite uneventful. Comments on social media platforms such as X observed that the Robotaxis operated safely and cautiously, and their driving was actually smoother than some human drivers. 

That may not sound very exciting at all, but that’s the beauty of it. Tesla’s Robotaxi service is designed to look and feel natural to people. And so far, it appears that Tesla is accomplishing this with its Robotaxi rollout.

https://twitter.com/DrKnowItAll16/status/1936992009685700663
https://twitter.com/DirtyTesLa/status/1936999390100496443
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