UK motorists are losing interest in Tesla electric cars, according to new data from a leading lease company.
Leasing Options has analysed the volume of leasing enquiries during the past 12 months. Overall, there has been an 11 percent decline in customers looking at a Tesla.
Of greater concern for the American EV brand, however – and its highly controversial CEO Elon Musk – is the speed of the decrease seen in the past month.
Comparing enquiries from February 2025 with the same month in 2024 reveals a dramatic 87 percent fall in demand for leasing a Tesla.
Tesla no longer ‘the automatic first choice’
Mike Thompson, COO at Leasing Options, comments: “Tesla has always been as much about brand image as it has been about technology. However, growing controversy around Elon Musk – both in his leadership of Tesla and his wider public persona – is alienating consumers.
“His outspoken political views, erratic decision-making, and controversial social media activity have led some former fans to distance themselves from the brand. People are re-evaluating their options and right now, Tesla isn’t the automatic first choice it once was.”
The analysis by Leasing Options follows a recent survey of Tesla owners that highlighted 70 percent were now ‘ashamed’ of their car.
A competitive EV market
Remaining members of the ‘Teslarati’ cannot simply attribute the drop in Tesla enquiries to a lack of interest for leasing electric vehicles, either.
Indeed, Leasing Options has seen an enormous 509 percent increase in customer enquiries about electric cars during the last year. Interest in Chinese brand BYD has rocketed by 793 percent, with even the long-established Ford brand seeing a 156 percent jump in enquiries about EVs.
Enquiries about Volkswagen’s electric models have grown by 127 percent, with a host of other brands also witnessing a rising demand.
Thompson explains: “Tesla, once the undisputed leader in the EV space, is now facing serious pressure from competitors who are matching or even surpassing them on price, range and features.
“Brands like BYD, Polestar, Volkswagen and Kia, plus emerging players such as Jaecoo and Omoda, are providing strong alternatives, and UK consumers are clearly paying attention.”
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