Tesla’s ambitious 0% minimum downpayment program for China has been canceled just days after the option was introduced. With the 0% minimum downpayment option now removed by the company, interested customers from China could now acquire their Teslas for a minimum 10% downpayment instead.
The update was recently related by local Chinese news agency Sina Finance. Citing information from Tesla China, the news outlet noted that the 0% minimum downpayment program resulted in a massive surge of vehicle orders, which then caused the company to be concerned about potential delays on its EVs’ estimated delivery dates.
A look at Tesla China’s online configurator shows that the Model 3 Standard Range Plus is currently listed with an estimated delivery date of six to ten weeks. The Model 3 Performance, on the other hand, simply lists a fourth quarter estimated delivery date. Considering the information reportedly related by Tesla China to local news media, it appears that the company is looking to avoid possible backlogs in its vehicle deliveries early next year.
Despite the halt of the 0% minimum downpayment program, a 10% minimum downpayment for Tesla’s electric vehicle offerings is still a pretty compelling deal. After all, Tesla’s locally produced vehicles from Giga Shanghai, the Model 3 and Model Y, are lauded as two of the country’s best electric cars thanks in part to their uncompromising stance on tech and safety. With this in mind, it may be safe to assume that Tesla China’s vehicle orders would likely remain healthy despite the company shifting to a 10% minimum downpayment system.
Tesla’s presence in China is growing, so it was no surprise that just recently, rumors emerged stating that several cities across the country were looking to attract the company for a possible second electric vehicle production plant. While compelling, however, Tesla China VP Grace Tao publicly denied the rumor of a second Tesla Gigafactory in China, stating that the reports were untrue.
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