Tesla China initiated an adjustment to the pricing of the Model Y Long Range Version, bringing the price up to 306,400 yuan (42,843 USD) by 2,000 yuan (280 USD). Last week, Tesla China also adjusted the price of the Model Y Long Range Version, increasing it by 2,000 yuan (280 USD) to 304,400 yuan (42,563 USD). This marks the fourth round of price adjustments by Tesla since the beginning of November and the second increase specifically for the Model Y Long Range Version.
In the midst of these pricing adjustments, Tesla China unveiled a limited-time low-interest financial policy applicable to all S3XY models. The offering features an annual interest rate of 2.75% for 3-year and 5-year loans, with the promotional period extending from November 28th to December 31st, and deliveries are expected to be completed before the close of 2023.
The Model 3/Y Rear Drive Version has an additional limited-time insurance subsidy of 8,000 yuan. Post-subsidy prices stand at 253,400 yuan (35,432 USD) and 258,400 yuan (36,131 USD), respectively. Buyers also have the option to benefit from low-interest loans during this promotional period.
In fact, Tesla China’s insurance subsidies are equivalent to cash discounts. Because no matter what insurance the user buys, cash will be returned to the user.
Furthermore, for customers ordering Model Y, Model S, and Model X through recommendations from existing users, Tesla is offering a discount of 1,750 yuan (245 USD), along with a 90-day EAP trial. As an additional incentive, old users will receive 7,000 worth of points. This promotional activity will continue, creating a blend of financial incentives and discounts for potential buyers.
The following is the actual purchase price of the Tesla Model 3 and Model Y new cars in China after adding activities and discounts:
Tesla launched a discount in China as an end-of-year sales push to reach its goal of delivering 1.8 million vehicles annually. By the end of Q3, they delivered 1.3 million in 2023.
I asked an analyst why Tesla China would raise prices and offer deals in one day. The analyst said there are two possible reasons: one reason is that Tesla needs to balance the production capacity and inventory of different versions of models; the other reason is that the price of Tesla models is determined by the U.S. headquarters, which believes that Tesla Motors Prices should be raised in the Chinese market now, and Tesla China believes that price increases will hurt sales, so it provides preferential policies.
Source: Tesla China