Tesla Motors Inc Shares Bounce On Partnership Announcement

Tesla Motors Inc Shares Bounce On Partnership Announcement
Blomst / Pixabay

Tesla Motors Inc (NASDAQ:TSLA) has announced a major partnership expansion in Switzerland. According to this morning’s press release, the automaker is expanding its partnership with Sixt Leasing. Model S buyers in Switzerland can now get a lease which “results in the effective and attractive cost of driving a Model S of about CHF 660 per month, including annual service performed by Tesla.

Play Quizzes 4

How Tesla drivers save in Switzerland

According to the agreement, drivers who lease a Tesla Motors Inc (NASDAQ:TSLA) Model S through Sixt Leasing must put 10% down on a 36 month lease. Currently, the leasing company offers payments between CHF 810 and CHF 950 a month, depending on how many miles the customer selects.

[Exclusive] ExodusPoint Is In The Green YTD Led By Rates And EM/ Macro Strategies

Invest ESG Leon CoopermanThe ExodusPoint Partners International Fund returned 0.36% for May, bringing its year-to-date return to 3.31% in a year that's been particularly challenging for most hedge funds, pushing many into the red. Macroeconomic factors continued to weigh on the market, resulting in significant intra-month volatility for May, although risk assets generally ended the month flat. Macro Read More

Tesla Motors Inc (NASDAQ:TSLA) estimates that driving a Model S can save up to CHF 300 a month in fuel and taxes compared to standard premium vehicles with internal combustion engines. The result, according to the automaker, is an effective cost of approximately CHF 660 a month to drive a Model S.

Tesla Motors Inc (NASDAQ:TSLA) has highlighted the importance of the European market as it aims to expand. The automaker recently extended its Supercharger Network into Switzerland. The automaker also cut the price of the Model S in Europe last month, lowering the price in Switzerland to CHF 71,900. Tesla also reduced prices in Germany and the Netherlands.

Tesla expands other leasing opportunities

This morning’s announcement comes two weeks after Tesla Motors Inc (NASDAQ:TSLA) revealed another leasing program for small to medium-sized businesses. That program enables businesses to adjust their payments to come out with business taxes. Unlike the deal with Sixt Leasing though, the business program is being offered through Tesla’s own financing arm.

Tesla Motors Inc (NASDAQ:TSLA) has been focused on expanding leasing options for customers for quite some time. The automaker aims to make driving its cars as inexpensive as possible so that more people can afford them, especially as it faces the chances that federal and state tax credits for purchasing its vehicles may be phased out over time.

Updated on

Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@wordpress-785388-2679526.cloudwaysapps.com.
Previous article Apple: “There Are Some Ideas We Want Every Company To Copy”
Next article Lytro Brings Magic Of Light Field Camera To Market

No posts to display