Tesla has rolled out a new incentive in China in collaboration with the Shanghai government in a bid to bolster consumption and stimulate the local economy, providing shopping vouchers to new buyers.
According to a report from Bloomberg, Tesla will provide 3,000 yuan (US$420…of course) shopping vouchers to customers in Shanghai who purchase and register a Model 3 or Model Y through the end of August. The vouchers are being provided within the scope of the local government’s broader program offering discounts on groceries, movies, and various other areas.
China represents the largest auto market in the world, and this new offer comes at a time when the Chinese EV market is heating up. To navigate the increasingly competitive landscape and counter rival automakers’ offerings, Tesla has cut prices on its cars several times over the course of the last year.
Despite the challenges, Tesla has continued to create incentives to attract new customers. An existing program offers new car buyers 3,500 yuan in cash and a complimentary Enhanced Autopilot (EAP) trial if they were referred by a Tesla owner. The introduction of shopping vouchers serves as another cog in the well-oiled machine of Tesla’s customer acquisition strategy in China.
Whether this latest incentive will drive extra sales remains to be seen. However, through the first seven months of the year Tesla has had no problems selling all of the cars it has produced at Giga Shanghai. Through July the automaker has sold over 600,000 Model 3 and Model Y cars, including both domestic sales and international exports.
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