Amidst Tesla China’s efforts to drum up more interest and boost sales of its all-electric cars, the company has launched a limited-time insurance subsidy and loan offer for the Model 3 and Model Y. Tesla China also announced some perks for the Model S and Model X.
As per an announcement on Chinese social media platform Weibo, Tesla has started offering a limited-time insurance subsidy of RMB 8,000 ($1,120) for customers who complete a delivery of an inventory Model 3 or Model Y Rear Wheel Drive (RWD) between November 28 and December 31. Considering the popularity of the Model 3 Highland and the minor refresh that was rolled out on the Model Y, this promotion might be quite successful.
Tesla China is also offering a limited-time loan offer with annual rates that are as low as 2.75% for loans that span three and five years. More importantly, customers who purchase a Tesla Model Y before the end of the year could see savings of up to RMB 11,500 ($1,621), while those who purchase the Model 3 could see savings of up to RMB 9,400 ($1,325).
It’s not just the Model 3 sedan and the Model Y crossover that’s receiving some perks, however. As could be seen in a post from Tesla Regional Vice President Grace Tao on Weibo, those who purchase a Model Y, Model S, or Model X through the referral program before the end of 2023 could get a RMB 1,750 ($246) discount on their final payment. This is a relatively small discount, but it could be quite compelling for those who wish to acquire a Model Y.
China is the world’s largest electric vehicle market, and it is also arguably the most competitive. Despite this, Tesla has established itself as one of the best-selling electric vehicle makers in the country. In October alone, Tesla China sold 72,115 Giga Shanghai-made vehicles, comprised of 43,489 units that were exported to foreign territories and 28,626 that were delivered to the domestic market, as per data from the China Passenger Car Association (CPCA).
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