Tesla Inc has reduced monthly lease payments for its electric vehicles in the United Kingdom by nearly 50% compared to a year ago, amid a 60% decline in sales. The company is offering discounts of up to 40% to car leasing firms, which are then passed on to customers through lower monthly payments. For example, a Tesla Model 3 can now be leased for as little as £252 per month plus VAT on a 36-month term, representing a 58% decrease from the previous year. This pricing strategy aims to counteract the slump in sales and market share losses due to rising competition from Chinese automakers and to encourage greater electric vehicle adoption. The move also addresses challenges related to vehicle storage. The Times first reported the development, which has been confirmed by multiple sources including Reuters and CNBC.