Tesla will grant the right to transfer FSD to a new car. Customers who buy a new Tesla car in Q3 will be able to transfer the feature to the new vehicle. This move could spur sales as some older owners may want to upgrade their cars.
Tesla took an unexpected, but extremely pleasant step for its customers. The company has announced it will allow its customers to transfer FSD (Full Self-Driving) from their old vehicles to new ones if they are purchased in Q3 2023. Elon Musk made the announcement in response to an investor question during the Q2 2023 Earnings Call. Tesla was once again asked about the possibility of transferring FSD to a new car:
“Have you considered allowing FSD transferability as a lever to allow existing customers to upgrade to a new Tesla instead of being locked into an existing car due to the price of FSD?”
Musk replied that in Q3, this unique opportunity will be presented to customers. If they buy a car this quarter or place an order to pick it up as soon as possible, they will be able to transfer FSD to a new vehicle.
“So, we're excited to announce that for Q3, we will be allowing transfer of FSD. This is a onetime amnesty. So, it needs to be -- you need to take advantage of it in Q3, but -- or at least place the order in Q3 within reasonable delivery time frames. So yes, I hope this makes people happy. This is a onetime thing.”
At the moment, FSD costs $15,000. This is a significant amount. Therefore, some customers have chosen not to upgrade their cars to avoid losing FSD and/or spending the extra $15,000 to re-purchase the feature. However, customers can now upgrade their vehicle without having to pay the additional $15,000. Obviously, this step should become a growth driver for new Tesla car orders. Especially since now is the best time to do so, as in the US, Model 3 and Y buyers are eligible for $7,500 in federal credit.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.