Tesla Launches New Year’s Promo in China for Model 3 and Model Y

Tesla china promotion 2023

Tesla has launched a New Year’s promotion in China, offering up to 10,000 yuan (about $1,450 USD) in incentives (via @Tslachan).

According to information shared by Tesla, the company says there’s a limited-time promo offering an insurance subsidy of 4,000 yuan ($580 USD) and a delivery incentive of 6,000 yuan ($870 USD), towards the purchase of a Model 3 or Model Y, until February 28, 2023.

Another perk is a free paint color upgrade to Midnight Silver Metallic, normally 8,000 yuan ($1,160 USD). This silver paint color was removed as free back in October for the entry Model Y.

Existing Chinese government subsidies (11,088 yuan) for New Energy Vehicles (NEV) ended on December 31, 2022, and now Tesla looks to emulate this discount on its own.

Tesla says there’s also a preferential financing rate of 3.5%, for all deliveries from January 1 to March 31, 2023.

Earlier this month, Tesla China offered discounts for vehicle purchases in Shenzhen, available until January 31, 2023. The company also debuted separate discounts in Shanghai to boost vehicle deliveries for Q4.

Tesla is expected to announce its Q4 and total 2022 deliveries on January 2, 2023. Many expect the company to increase its annual production rate by up to 50% percent again, as per the company’s guidance, but supply chain and COVID-19 factors may have affected final numbers.