Tesla China has extended cash reductions on the Model 3 and Model Y through October, but cut the discount on the Model Y to 7,000 yuan ($1,040) from 10,000 yuan.
The “Golden Autumn Limited-Time Offer,” announced on Tesla China’s Weibo account on Friday, covers orders placed by October 31.
The Model 3 keeps its 5,000 yuan ($700) reduction on the final payment, according to Tesla’s promotions page.
The new offer lands on the first day of China’s Mid-Autumn Festival holiday and runs through the Golden Week holiday from October 1 to 7.
It replaces a cash offer on in-stock vehicles that Tesla launched on September 7, which gave 10,000 yuan off every Model Y and 5,000 yuan off every Model 3 for cars ordered and delivered by September 30.
The two offers cannot be combined, Tesla said.
Model Y Costs 3,000 Yuan More
Tesla now advertises the Model 3 from 222,500 yuan ($33,100) and the Model Y from 256,500 yuan ($38,200).
The Model 3 figure is unchanged from the September 7 offer, when Tesla called the prices the lowest in its lineup’s history.
The Model Y’s advertised starting price is 3,000 yuan higher than the 253,500 yuan ($37,800) Tesla quoted earlier this month.
The Model 3 lists at 235,500 yuan ($35,100) and the Model Y at 263,500 yuan ($39,200), and Tesla has not changed either list price.
The Model Y figure is list price minus the 7,000 yuan cash reduction.
The Model 3’s 222,500 yuan figure also counts an 8,000 yuan insurance subsidy, available on all Model 3 variants except the Performance when buyers insure through Tesla’s partner insurers.
On the cash reduction alone, the Model 3 starts at 230,500 yuan ($34,300).
Which Vehicles Qualify
The 7,000 yuan Model Y reduction applies to the RWD, Long Range RWD, Long Range AWD and Model Y L versions, Tesla said.
The Model Y Performance, which Tesla launched in China on September 11, is excluded.
The 5,000 yuan Model 3 reduction covers the RWD, Long Range RWD and Long Range AWD, but not the Model 3 Performance.
Tesla’s promotions page lists new, nearly-new, display and test-drive vehicles as eligible, rather than in-stock cars only.
Buyers can also choose one of three perks: 5-year zero-interest financing, an 8,000 yuan paint-option credit, or charging benefits.
Zero-interest financing starts with a 79,900 yuan down payment on the Model 3 and Model Y, and 99,900 yuan on the Model Y L, Tesla said.
Tesla put monthly payments from 2,377 yuan for the Model 3 and 2,944 yuan for the Model Y.
Third Round in Four Weeks
The offer is the third change to Tesla’s China incentives in four weeks.
On August 28, Tesla extended seven incentives and added an 8,000 yuan Model 3 insurance subsidy, including interest-free financing and paint credits, but no cash reduction.
The September 7 cash offer was Tesla’s first direct cash reduction on a locally built model in China since December 2024.
Model Y delivery wait times in China then doubled within a week, to five to seven weeks for most trims by September 18.
Domestic Sales Down 12.4%
Tesla’s retail sales in China fell 12.4% year over year to 50,047 units in August, CPCA data show, the third consecutive monthly decline.
Model Y retail sales dropped 25.8% to 29,260 units, according to CPCA data reported by Tencent News.
The Model 3 accounted for the remaining 20,787 units.
In July, Tesla sold 27,249 vehicles in China, down 32.9% year over year.
Domestic sales totalled 316,251 units in the first eight months, down 12.4% year over year, while Giga Shanghai exported 331,443 vehicles over the same period.
To match the 169,294 vehicles it sold in China in the third quarter of 2025, Tesla needs about 92,000 September sales, close to its monthly record of 93,843 set in December 2025.
Tesla is due to report third-quarter global deliveries on October 2.
