U.S. electric vehicle maker Tesla
has sharply cut its monthly lease fee for British motorists to boost weakening demand, The Times reported on Monday, citing industry sources.
The British newspaper reported that Elon Musk’s company was forced to offer discounts of up to 40% to U.K. car leasing companies, noting a lack of storage space nationwide for Tesla vehicles.
CNBC could not independently verify the report, and a Tesla spokesperson was not immediately available to comment.
It comes as the automaker scrambles to reverse a declining sales trend in the U.K. and in broader Europe.
