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Tesla offers additional discount to Chinese buyers on some models

Published 12/07/2022, 12:07 AM
Updated 12/07/2022, 12:12 AM
© Reuters. FILE PHOTO: A Tesla electric vehicle (EV) drives past a crossing in Shanghai, China March 9, 2021.  REUTERS/Aly Song/File Photo

SHANGHAI (Reuters) - Tesla (NASDAQ:TSLA) is offering a limited time discount of 6,000 yuan ($859.20) to Chinese buyers on some models from Wednesday through to the end of 2022, a company representative said on Wednesday.

This comes in addition to a previously announced 4,000 yuan insurance subsidy, but is only applicable for customers buying a current car model and completing delivery by the end of December.

Local media outlet Wallstreetcn first reported the discount.

The move is the latest by the U.S. automaker to adjust its prices in China. The company has cut prices for Model 3 and Model Y cars by up to 9% in China, in addition to the insurance incentives, as its Shanghai plant grapples with elevated inventory levels amid slowing demand in China's auto market.

These steps helped the Shanghai factory deliver 100,291 China-made electric vehicles (EVs) in November, up 40% from October and the highest monthly sales since it opened in late 2020.

Latest comments

They don't need Tesla, but Tesla needs China. The Shanghai factory can deliver, but USA must stop economic war.
Slowing demand? Perhaps for Tesla. EV sales in China has seen phenomenal growth this year with record sales.
Lame
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