An Exeter car leasing company has taken delivery of 100 of Elon Musk’s Tesla Model 3 electric vehicles – and seen more than 60 leased to businesses in just a week.
Carparison, based at Hill Barton Business Park, has been delighted by the appetite for the vehicles, which can drive for up to 360 miles in a single charge.
The company said the exceptional range and charging times – just 15 minutes to give 172 miles of driving – plus the “badge pull” of the Tesla name mean companies have been keen to get their hands on one of the cars.
Carparison, which was incorporated in 2018, leases a range of vehicles, electric and for personal and businesses uses with brands such as Seat, Ford and Citroen among its top offers.
Vehicle leasing, also known as contract hire, is a financing option which is a bit like renting because customers have use of a vehicle for an agreed time before returning it.
Carparison received 100 Tesla Model 3 cars in early April and within 10 days had fewer than 40 left in stock.
“The majority of leasers have come through business deals,” said Carparison’s Ryan Darby. “We have some businesses in the South West who have taken them out. They have been going particularly well, but then they are the cream of the crop for electric vehicles.”
Tesla is one of the companies co-founded by entrepreneur Elon Musk, and in 2017 began delivering its Model 3 Tesla, a mass-market electric vehicle, which comes in three makes: Long Range, Standard Plus and Performance.
When they were launched prices started at £26,650 to buy, but Carparison is offering the Standard and Long Range models for £432 and £459 a month respectively.
“The come with a certain price tag but have the best range and charging times on the market,” said Mr Darby.”
The Model 3, which goes from 0-60mph in 4.2seconds and has a 162mph top speed, is seen as having an exceptionally fast charging time especially if using Tesla’s Supercharger device which links to the firm’s own charging network.
And Mr Darby said: “This is a big appeal. You can charge overnight, but the convenience a Tesla offers is second to none. And with Tesla there is that badge power, the badge pull.”
Indeed, the Tesla line-up has long been viewed as the benchmark for electric driving, and also includes class-leading interiors and exceptional comfort levels, with Carparison saying few manufacturers can rival the quality on offer.
Carparison’s general manager Matt Woodward said: “We are committed to finding the very best cars out there and we work tirelessly to produce the best prices and deals for our customers. We feel this is especially prominent with electric cars as the price continues to be a pinch point for many.
“Committing to the quantities we have will allow us to reduce the lease cost for our customers. As they are in stock with us, we are also able to get the cars to their new homes sooner.”
He said customers looking to drive away a Tesla Model 3 lease could get the keys in as little as three weeks.
Tesla’s Model 3 cars have been developed with modern tech inside them, including cameras, radar and ultrasonic sensors, with a driver’s touchscreen. Drivers can use their smartphones as the key.
Tesla is based in California, USA and its other products include solar panels and roof tiles. It has 16% of the plug-in electric car market.,
Founded in 2003 it had a 2020 net income of US$721million. Elon Musk, one of the world’s richest people, provided much of the initial finance and has been chief executive since 2008 and is also product architect.
