Written by Cláudio Afonso | LinkedIn | X
Tesla said on Monday is rolling out new financing incentives in China as it ramps up sales of its refreshed Model Y, offering a three-year zero-interest loan option across the entire lineup for the first time.
The limited-time promotion runs through April 30 and also includes a five-year ultra-low interest loan alternative. Monthly payments for the Model Y start at about 3,809 yuan ($525), according to a Tesla social media post.
The company is also extending incentives to its Model 3 lineup. The rear-wheel-drive and long-range all-wheel-drive variants of the Model 3 are now available with a five-year zero-interest financing option. Monthly payments for those vehicles begin at 2,594 yuan ($357).
Buyers of designated Model 3 or Model Y versions are eligible to choose one of the following charging-related benefits: a home charging station originally priced at 5,200 yuan, now available at a discounted 1,299 yuan; a 6-year supercharging service package with 30,000 kilometers of usage, priced at 1,299 yuan or a third-generation home charging service package, originally 7,200 yuan, now offered at 3,299 yuan.
Currently, Tesla sells a rear-wheel-drive launch edition Model Y at 263,500 yuan ($36,300), with a 593-kilometer driving range, 0–100 km/h acceleration in 5.9 seconds, and a top speed of 201 km/h.
The all-wheel-drive launch edition, priced at 303,500 yuan ($41,800), with a 719-kilometer range, 0–100 km/h acceleration in 4.3 seconds, and the same top speed.
In February — a month which was highly affected by the production ramp up of the new Model Y — Tesla sold 26,777 vehicles in China, down 11.2% year-on-year and 20.6% from January, data from the China Passenger Car Association (CPCA) showed.
Tesla began rolling out software version 2024.45.32.12 in China last week, enabling the resumption of a previously halted one-month free trial of its Intelligent Assisted Driving system, as the feature is now called in the Chinese market.
The company said earlier this week it was reworking its Full Self-Driving (FSD) software in China to comply with updated regulatory requirements, which forced Tesla to temporarily pause a planned one-month trial that began on March 17.
Tesla confirmed on Monday that both Hardware 3.0 (HW3) and Hardware 4.0 (HW4) vehicles will receive its assisted driving software in China, known as Full Self Driving (Supervised) in the United States.
The company began internal testing of FSD Version 12.6 on HW3 vehicles with employees last week.
The one-month free trial of the technology has resumed rolling out to customers on Friday following the latest version of the software.
Last week, Tesla also modified the way it refers to FSD in China. The label “FSD 智能辅助驾驶” (FSD intelligent assisted driving) was shortened to just “智能辅助驾驶” (intelligent assisted driving), removing explicit reference to FSD in the user interface.
