Tesla turns to discounts, easy EMIs to push Model Y in India

Electric vehicle major Tesla India on Tuesday said it has rolled out a slew of schemes to boost weak sales in the country and encourage customers to switch from petrol and diesel vehicles to electric cars.

The company said it is offering an exchange incentive of up to ₹3 lakh for customers shifting to electric mobility.

It has also introduced an EMI plan under which customers can purchase the Model Y at monthly instalments starting from ₹49,000, with a down payment of ₹6 lakh, significantly lowering the entry barrier for premium electric vehicles.

Tesla made its official entry into the Indian market in July last year with the launch of its first showroom at Maker Maxity Mall in Mumbai’s Bandra Kurla Complex (BKC).

The company commenced deliveries of the Model Y in September last year.

As per electric vehicle sales data shared by the Federation of Automobile Dealers Associations (FADA), the company sold 225 units in India last year.

Overall electric passenger vehicle retail sales in the country rose to 1,76,817 units last year, marking a 77 per cent increase over 99,875 units sold in the 2024 calendar year.

By switching to the Tesla Model Y, customers can achieve savings of up to ₹20,000 per month through lower fuel and maintenance costs, highlighting the long-term cost benefits and lower total cost of ownership of electric vehicles, the company said in a statement.

It also gives mid-segment SUV and sedan owners the opportunity to upgrade to Tesla with an effective ownership cost starting at ₹29,000 per month, the company said.

According to the company’s website, the rear-wheel drive variant is priced at ₹59,89,000, while the long-range rear-wheel drive variant costs ₹67,89,000.

The Model Y has a top speed of 201 kmph and can accelerate from 0 to 100 kmph in 5.9 seconds, offering a claimed range of 500 km on a single charge.

The SUV is available in six colours — stealth grey, pearl white, diamond black, glacier blue, quick silver and ultra red. The India-specific version features a black-and-white dual-tone interior with premium white upholstery, a matching dashboard accent strip and a 15.4-inch touchscreen that controls navigation, entertainment and climate functions.