British motorists can now lease a Tesla electric vehicle for just over half the price they would have paid a year ago, The Times reported on Monday, citing industry sources.

Tesla has been offering discounts of up to 40 per cent to car leasing companies in an effort to move more vehicles, the report said.

The discounts are also reportedly linked to limited storage capacity for Tesla vehicles in the UK, according to the report.

Reuters could not immediately verify the report, and Tesla did not respond to a request for comment.

Data from the Society of Motor Manufacturers and Traders (SMMT) shows that Tesla’s sales in the UK fell around 60 per cent in July, with just 987 units sold.

Overall new car registrations in Britain declined by about 5 per cent year-on-year in July, the SMMT said.

Battery electric vehicles are now expected to make up 23.8 per cent of new registrations in 2025, slightly higher than the SMMT’s previous forecast of 23.5 per cent.