Tesla, through its Chinese arm, has just launched new enticing offers for local customers to boost end-of-the-quarter deliveries, including insurance subsidies and loan incentives.
Insurance subsidy
Tesla’s Vice President of External Affairs unveiled the latest promotional efforts on the Chinese social media platform Weibo.
Customers who receive delivery of Tesla Model 3 and Model Y RWD inventories from November 28 to December 31 can benefit from RMB 8,000 ($1,120) insurance subsidy. This amount reduces the retail prices to RMB 253,400 and RMB 258,400, respectively.
Loan incentives
Tesla China has also introduced a new loan offer with annual rates as low as 2.75% for loans that last three to five years for customers taking delivery between November 28 and December 31.
Gear Musk also asserted that customers can increase their savings by up to RMB 11,500 ($1,621) for the Tesla Model Y. Meanwhile, Tesla Model 3 buyers can save up to RMB 9,400 ($1,325) with stackable insurance and financing discounts.
Apart from these financing offers, Tesla Model S, X, and Y buyers who use referral links will gain 7,000 points and a complimentary e 90-day Enhanced Autopilot trial. They can also secure an RMB 1,750 ($246) discount on their final payment, Teslarati reported.
Latest pricing of Tesla models in China
Gear Musk also outlined the latest pricing of the Tesla models in the Chinese catalog as of November 28:
- Model 3 RWD: 261,400 RMB
- Model 3 AWD Long Range: 297,400 RMB
- Model Y RWD: 266,400 RMB
- Model Y AWD Long Range: 306,400 RMB
- Model Y Performance: 363,900 RMB
All these financing efforts are crucial for Tesla to ensure strong results in the fourth quarter of 2023. In October alone, Tesla’s Made-in-China sales reached 72,115 units. Of that total, exports accounted for 43,489 units, and local deliveries contributed 28,626 units.
