Tesla has introduced a new round of discounts for Model 3 and Model Y buyers in China, with savings of up to 7,000 yuan (C$1,475/US$1,040) on the vehicles themselves.
For orders placed before October 31, the company will slash 5,000 yuan (C$1,050/US$740) off any Model 3 variant. Tesla is pairing it with incentives such as 0% financing for up to five years. Buyers can also spend 8,000 yuan (C$1,680/US$1,190) on the colour option of their choice, and pick any of three charging perks.
The Model Y SUV also qualifies for a 7,000 yuan discount, with the same extras included.
Apart from the discounts mentioned above, Model 3 buyers also receive an 8,000 yuan insurance subsidy. The Performance All-Wheel Drive variant, however, is excluded from this particular benefit.
With all discounts combined, the Model 3 could drop to a starting price of 225,500 yuan (C$47,500/US$33,600), while the Model Y starts at 256,500 yuan (C$54,060/US$38,200).
Tesla, however, has another active promo with different eligibility requirements. For orders delivered before the end of September, the Model 3 qualifies for a 5,000 yuan (C$1,050/US$750) discount, while the Model Y gets a 10,000 yuan (C$2,100/US$1,490) rebate. Customers can not combine the two promos.
Tesla’s China sales have recently trended downward amid competition from local brands. August deliveries stood at 50,047 units, a 12 percent decline year-on-year. It was the third straight month of declining sales for the American company. In response, Tesla launched the fifth Model Y variant (Performance All-Wheel Drive) earlier this month.
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