Tesla Motors announced on Monday that it will sell its lease program in a way that is more profitable than its traditional leasing model, allowing for higher volumes of cars sold than traditional leasing models.
Tesla’s leasing program, which has a similar model to Ford’s and is currently sold through lease agreements with several automakers, will be available to Tesla owners starting in March 2019.
The company said it will provide Tesla with an incentive for leasing, up to $500 per vehicle.
Tesla will receive a cut of the lease revenue as well as discounts, rebates, and other incentives, which it will not have to share with its lease partners.
The leasing program is the most lucrative of Tesla’s existing programs, with leasing revenue exceeding $1.4 billion in 2017, according to Tesla.
The leasing program for Tesla vehicles has been a big draw in recent years, and it’s been growing steadily since it was introduced in 2015.
Tesla’s leasing model allows owners to lease cars for as long as they like, but the program has long been seen as a way to reduce the cost of leasing, which is a key driver of Tesla shares.
Tesla announced that the program would become available to all Tesla owners on April 1, 2018, and will be free for existing Tesla owners who lease their vehicles through the Tesla website.
It will cost $500 for the first 30 days and $500 a month thereafter.
The program will cost about $2,000 per vehicle per year.
Tesla is currently leasing cars through the company’s leasing programs with Audi, BMW, Daimler, Ford, General Motors, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Nissan, Porsche, Rolls-Royce, Toyota, Volvo, and Zagato.
Tesla also said that it would begin offering its leasing program in Japan on April 15, 2019.
The program is not currently available to customers who lease through any other dealership.
Tesla said that Tesla owners leasing through the leasing program will also receive incentives for paying the full lease price.
The incentives include a $500 bonus and a rebate of up to 75 percent of the purchase price.