Tesla China is welcoming the New Year with a series of promotions that are designed to make its Model S3XY lineup more compelling to consumers in the country. The New Year incentives were posted by the electric vehicle maker on its official Weibo account.
As per the electric vehicle maker, customers who purchase a Model 3 Highland Rear Wheel Drive (RWD) that’s been produced in January 2024 could receive an RMB 6,000 ($847) insurance subsidy, provided that they take delivery of their vehicles by the end of the month, as noted in a CNEV Post report.
With the insurance subsidy in place, the price of the base Model 3 gets adjusted to just RMB 255,400 ($36,000). Such a price is quite compelling considering what the Model 3 Highland offers, even in its base variant. Without the insurance subsidy, the Model 3 Highland RWD is priced at RMB 261,400 ($36,900), as per Tesla China’s poster about its new incentive.
Apart from its insurance subsidy for the Model 3 Highland, Tesla China is also offering loan rates as low as 1.99% per annum for Model 3 and Model Y vehicles, provided that customers take delivery of their all-electric cars by the end of January 2024. For the flagship Model S and X, rates start at 2.5% per annum. Tesla China noted that these incentives could save customers up to RMB 23,000 ($3,200) on Model 3 and Y purchases.
Tesla China only produces the Model 3 sedan and Model Y crossover at Gigafactory Shanghai. Currently, the electric vehicle maker offers two variants of the Model 3 in China: the base Rear Wheel Drive (RWD), which starts at RMB 261,400; and the Long Range Dual Motor All Wheel Drive (AWD), which starts at RMB 297,400 ($42,000) before options.
The Model Y, on the other hand, is offered in three variants. The base RWD variant starts at RMB 266,400 ($37,600), the Long Range Dual Motor AWD starts at RMB 306,400 ($43,200), and the top-tier Performance version starts at RMB 363,900 ($51,400) before options.
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