Tesla has launched a special three-day promotion in the Indian market called 'Switch and Save Carnival,' running from October 23 to October 25. Under this offer, the effective monthly cost of owning a Tesla Model Y will be ₹19,990.
It is important to note that this price is calculated after accounting for several calculations. The promotion is only available during these three days. The company set this effective monthly cost by deducting fuel and maintenance expenses.
According to the terms of the promotion, the buyer of a Tesla Model Y must make an initial down payment of ₹6 lakh. After that, the monthly installment (EMI) will be ₹39,990. This payment is calculated over 7 years at an annual interest rate of 8.5%. From the EMI amount of ₹39,990, the company deducts ₹20,000 as savings on fuel and maintenance.
Essentially, the buyer will have to pay ₹39,990 monthly. The company explains this difference by stating that owners of internal combustion engine (ICE) vehicles incur fuel and maintenance costs, which does not happen with the electric vehicle Tesla Model Y, thus forming the savings.
The American manufacturer set the saving at ₹20,000 based on the following calculations: to travel 100 kilometers requires an energy consumption of 14.3 kWh at a tariff of ₹7 per kWh. For an ICE vehicle, the company determined the fuel consumption to be 8 kilometers per liter and maintenance costs at ₹2 per kilometer.
Potential buyers of the Tesla Model Y or Model Y L may also consider trading in their old car, as the company provides a Tesla Wall Connector with each car during the event. The main goal of this campaign is to motivate owners of gasoline and diesel cars to switch to purchasing a Tesla.
In the Indian market, the base model Tesla Model Y starts from ₹50.89 lakh with a display price and has a claimed range of 500 kilometers. The six-seater version, Model Y L, has a starting price of ₹61.99 lakh and a claimed range of 681 kilometers.