Tesla self-driving subscriptions increase on price cut amid EV sales slowdown
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Tesla’s Autopilot Full Self-Driving (FSD) subscriptions increased 106% in the first two months following a price reduction on the Enhanced FSD tier, according to Earnest credit card data on subscription purchases. The $100 price reduction to $99 per month comes as the overall auto industry tries to sell excess inventory, Tesla and other electric vehicle (EV) companies face slumping new car sales, and EV maker Fisker declares bankruptcy. Subscription sales open a relatively new path for Tesla as it monetizes cars already on the road and cashes in on an active healthy resale market despite falling new car prices.
Tesla’s customers are already overwhelmingly high income earners who may not think twice of subscribing to FSD at the new lower price. Over half of new Tesla buyers earned over $190k according to Earnest credit card data (access data in Dash).
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