Tesla China is promoting the newly updated Model Y with a limited offer. Buyers paying for the electric SUV before the end of June 2025 can benefit from a five-year interest-free financing, according to a post on Weibo.
The special offer allows customers to deposit as low as RMB 79,900 (about $10,945) and make monthly payments of RMB 3,060.
Tesla sells both RWD and AWD in the world’s largest automobile market, starting at RMB 263,500 and RMB 313,500, respectively. The automaker began delivering the upgraded Model Y in China in February after launching it earlier in the year.
The first zero-interest promotion applied to only the long-range AWD trim for a three-year payment period. Tesla is now expanding the offering to the other variants and extending the payment term to five years.
Tesla faces stiffer competition in China, where other EV makers are rushing to the market with innovations, including faster charging and longer driving ranges. Other brands are also chipping away at Tesla’s lead with cheaper prices. However, it managed to increase local sales in March by 18.8 percent when it moved 74,127 units, of which 48,189 were Model Y’s.
Tesla is still pushing the Model 3 with insurance discounts, which apply to all trims. The RMB 8,000 subsidy initially ended in February, but the company extended it to the end of April.
