Tesla ( TSLA ) has introduced a new direct discount for the Model Y in China as the latest in a series of incentives to boost demand during this crucial end-of-quarter push.
The automaker usually offers discounts at the end of each quarter, but incentives to boost demand were at their highest this quarter.
Over the past month, we've been documenting the many sales incentives and discounts Tesla has rolled out to ensure it generates a record quarter of demand.
Tesla aims to deliver a record number of more than 515,000 vehicles in Q4 so that its sales are not down for the whole year. That's ~30,000 more cars than Tesla's last quarter, which was Q4 2023.
In Europe, incentives include a year of free Supercharging and heavy discounts on cargo vehicles.
In the US, there are also great inventory discounts, 3 months of free Supercharger and Full Self-Driving subscriptions, FSD transmissions, and more.
Recently, Tesla also reduced the lease price of the base Model Y and even offered a discount on home charging under Tesla Electric for those who bring in new cars.
And everywhere, Tesla is heavily subsidizing loans with low interest rates. That's been a big factor in China, Tesla's biggest market, by far.
New Tesla Discount in China
Today, Tesla announced that it is offering a ¥10,000, equivalent to $1,380 USD, discount on the final payment of new Model Y vehicles:
The new discount can be combined with Tesla's 0% interest rate subsidy, which has been Tesla's biggest incentive in China all year.
Electrek's Take
Based on insurance data, Tesla is trailing ahead of last year's deliveries in China, but will need to beat its last record by a significant amount to make sure it doesn't drop for the rest of the year.
The Model Y is Tesla's most popular car, but Tesla is also resisting expectations of a design refresh coming early next year, which could negatively impact demand.
This discount is likely to combat that and maintain Tesla's current positive momentum in China.
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