Good news and bad news for Tesla fans

First, and most importantly if you are considering leasing one, really good news comes via Tuesday's Wall Street Journal (Oct. 28). Mike Ramsey writes that thanks to an agreement with U.S. Bank, lease rates will drop as much as 25%.

That's a considerable amount considering that the iconic car company's only car, the Model S, leases for $777 to $1,271 a month. You may still have to wait for a vehicle, though, as the model “is currently back-ordered until December, according to a company sales representative.” However, as one might expect, the plunging price of gas has not exactly provided a great incentive to spur sales.

A barrel of oil traded in the U.S. for about $81 on Monday, 23% less than at the end of June—leading the national average price of a gallon of gasoline to hover around $3 a gallon. Lower fuel prices weaken the business case for the sale of electric cars that don’t require gasoline or diesel for propulsion.

However, plunging gas prices can not entirely be blamed for the 26% drop-off in Tesla sales through September, compared with the same period last year.

“I would attribute the sales decline to the Model S being a niche product that has probably temporarily satiated demand, somewhat exacerbated by falling gas prices,” Haig Stoddard, a WardsAuto analyst, said.

I'm not particularly sure that Tesla buyers are all that tuned to gas prices, at least to the same level that say other EV car buyers would be. What do you think? Would love to hear from you if:

• You own a Tesla
• You are considering buying/leasing a Tesla - in that case - any thoughts on the reduced leasing costs?

[Full access to the Wall Street Journal article  for non-subscribers will work for seven days from Oct. 28]