Tesla Launches New Promotions: Discounts And Financing Deals For Model Y In China
Starting December 24, 2024, Tesla Offers RMB 10,000 Off Model Y Variants And Extends Zero-Interest Financing To Drive Sales Into Q1 2025
In a strategic move to kickstart its Q1 2025, Tesla China has announced a comprehensive update to its promotional strategy, introducing new incentives for its popular Model Y while extending existing financing options across its electric vehicle (EV) lineup.
Discounts on Model Y Lineup
In detail, the new promotion is a RMB 10,000 (around $1,370) reduction on final payments for existing Model Y vehicles, effective from December 24, 2024. This discount specifically targets the two most accessible variants of the Model Y lineup: the Rear Wheel Drive model, currently priced at RMB 249,900, and the Long Range All Wheel Drive version, which starts at RMB 290,900.
In addition, Tesla China’s latest promotion extends to both inventory and showroom vehicles of the Model Y, though it notably excludes customized vehicles, test drive units, and certified pre-owned vehicles.
Extended Financing Options
Complementing this direct price reduction, Tesla China has also extended its innovative financing program through January 31, 2025. This program, which first debuted in April 2024, offers qualified buyers a remarkable zero-interest financing option over a five-year term. The financing deal encompasses both the Model Y and Model 3 lineups, requiring a minimum down payment of RMB 79,900.
Tesla China’s Strong November Sales
For perspective, these moves follow Tesla China’s strong performance in November 2024, when the company reported sales of 78,856 vehicles, with 5,366 units designated for export, according to data from the China Passenger Car Association (CPCA).
The updated promotional strategy represents a refined version of Tesla’s November 2024 offer, which included similar incentives but with a broader application to customized vehicles. The previous program’s strict December 31 delivery deadline has been effectively adjusted in the new promotion, acknowledging the practical limitations of year-end deliveries for customized orders.
As the company prepares for what appears to be significant product updates in early 2025, these promotions may prove crucial in managing inventory transitions while sustaining market momentum.
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