Is Tesla dropping prices in the UK?
Tesla has reduced the price of its Model 3 and Model Y EVs by up to £8,000 depending on which model you go for. If you have a pending Tesla order placed before these reductions were announced, the cost of your car will reportedly be updated automatically to reflect the sizeable price drop. For a limited time, Tesla is offering up to $3,000 in bonus trade-in value when you switch to a Model 3 or Model Y. Upgrade through Easi and you’ll get an extra $1,000 cashback on top! To take advantage, simply order and take delivery of your new Tesla by 31 March 2026.
Why are people not buying Tesla anymore?
This Tesla exodus isn’t a new pattern. Rising Tesla insurance rates have pushed drivers toward other EVs, and a survey found that Elon Musk became a top reason drivers were getting rid of their Teslas in 2023 — yet most of those drivers still chose to stay electric. Elon Musk’s actions have seriously affected Tesla’s market performance. Tesla’s sales are down both in the US and internationally. More Tesla owners are switching to vehicles from other brands amidst rising competition.