Tesla China Hikes Model Y Price, Debuts Insurance Promos

model y china increase

Tesla China has announced a price increase of 2,000 yuan for the Model Y Long Range, now starting at 306,400 yuan.

This marks the fifth consecutive price hike for the model, following a similar increase on November 21. The Model Y Long Range had previously seen its price rise to 302,400 yuan on November 8.

In a parallel move, Tesla China initiated a limited-time insurance grant promotion late Monday for the Model 3 and Model Y Rear-Wheel Drive (RWD) variants, notes @Tslachan.

This promotion, aimed at boosting sales in the Chinese domestic market during the fourth quarter, offers an insurance subsidy of 8,000 yuan for customers who take delivery of their vehicles between November 28 and December 31. Additionally, Tesla China is providing low interest rate loans to facilitate car purchases.

Tesla is pushing hard to set an all-time production and delivery record for the entire 2023 calendar year. These incentives are expected to boost sales in China, the world’s largest EV market.