Tesla China introduces Model 3 insurance discount, Cybervault price reduction, and reduced Supercharging costs
Tesla Announces Insurance Subsidy and Other Incentives for Model 3 Purchases in China
Tesla has announced a series of incentives for buyers of its Model 3 electric vehicles in China, aimed at boosting sales during the traditionally slow Lunar New Year holiday post-period.
From February 5 to February 28, buyers in China can enjoy an insurance subsidy of ¥8,000 when they opt for insurance through Tesla's partnered providers. This subsidy can be combined with Tesla's 0% interest financing incentive, which has been extended to the end of February.
The insurance subsidy applies to new custom orders, existing inventory, display models, and test drive vehicles. The prices for Model 3 trims with the insurance subsidy are: Rear-Wheel Drive (RWD) - ¥227,500, Long Range All-Wheel Drive (AWD) - ¥267,500, and Performance - ¥331,500.
In addition to the insurance subsidy, Tesla is also offering a discount on the Cybervault and Supercharging pricing. The new prices for the Model 3 trims were announced after a ¥3,600 increase on January 10. The offer on the Cybervault discount is also available during the same promotional period.
Tesla China is offering an 85% discount on the Cybervault, a Cybertruck-inspired protective case for home charging stations. The company has also lowered the price at all Superchargers in China to ¥1 (C$0.20/US$0.14) per kilowatt-hour (KWh) for a 24-hour period.
Besides Tesla, UnionPay also offers a 0% credit card installment plan for Model 3 purchase inquiries in China during this period. The offer comes just weeks after Tesla increased the price of all Model 3 trims in China by ¥3,600 on January 10.
The limited 24-hour period to lower the price at all Superchargers in China is part of Tesla's efforts to encourage more electric vehicle adoption in the country. The company aims to make electric vehicle charging more affordable and accessible for its customers.
Overall, Tesla's incentives for Model 3 purchases in China are intended to make the vehicles more affordable and attractive to buyers during the Lunar New Year holiday post-period, traditionally a slow season for car sales in China.
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