Tesla offers Model Y carnival from October 23 to 25, EMI starts at Rs 39,990 with Rs 6 lakh down payment

Tesla has announced a special offer for customers in India. The company is holding a "Switch and Save Carnival" in the country from October 23 to 25, 2026. During the three-day event, the effective monthly ownership cost of the Tesla Model Y is claimed to be Rs 19,990.

However, this amount is not the actual EMI. It is the figure that results after deducting estimated savings on fuel and maintenance. It would therefore be wrong to treat Rs 19,990 as a monthly instalment.

On the actual EMI, customers under this scheme must pay a down payment of Rs 6 lakh. After that, under a seven-year step-up EMI plan at an annual interest rate of 8.5%, the monthly instalment starts at Rs 39,990. The actual EMI may change depending on bank approval and loan terms. Finance approval and the final instalment amount will depend on the terms of the lending institution.

Now the savings calculation. According to Tesla's calculation, about Rs 20,000 a month can be saved compared with a petrol or diesel car. This is why the company puts the effective monthly cost at Rs 19,990.

In arriving at this saving, Tesla has assumed the Model Y's electricity consumption at 14.3 kWh per 100 km and an electricity rate of Rs 7 a unit. For comparison, the petrol or diesel car is taken to give a mileage of 8 km a litre, with servicing costing Rs 2 a km. An electric car does not need engine oil, spark plugs or servicing of a multi-speed transmission. Because of regenerative braking, brake pads may also wear less, which reduces regular maintenance costs.

At the carnival, customers can view the Tesla Model Y and the six-seater Model Y L. An exchange valuation will be offered for an old car, and the loan process can also be arranged through Tesla's finance partners. A Tesla Wall Connector will be provided with every car bought during this period.

The event will run from 11 am to 8 pm at Tesla centres in Noida, Delhi, Gurugram, Chennai, Hyderabad, Bengaluru and Mumbai. Test drives can be booked for the 2026 Model Y Premium Rear-Wheel Drive and the Model Y L, so that customers can drive the car before buying.