Tesla Motors Inc Shares Bounce On Partnership Announcement

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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.

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.

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.

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