Tesla (TSLA) has introduced a new direct discount for the Model Y in China as the latest of a series of incentives to boost demand during this critical end-of-quarter push.
The automaker regularly offers discounts at the end of every quarter, but the incentives to boost demand have been the most wide-ranging ever this quarter.
Over the last month, we have been documenting the many sale incentives and discounts that Tesla has put in place to ensure it creates the demand for a record quarter.
Tesla aims to deliver a record number of more than 515,000 vehicles in Q4 in order for its sales not to be down for the whole year. Thatβs ~30,000 more vehicles than Teslaβs last record quarter, which was Q4 2023.
In Europe, the incentives includeΒ a year of free Supercharging and heavy discounts on inventory vehicles.
In the US, there are alsoΒ good inventory discounts, 3 months of free Supercharger and Full Self-Driving subscription, FSD transfer, and more.
More recently, Tesla also slashed the lease price of the base Model Y and even offered discounted home charging under Tesla Electric for those taking delivery of new vehicles.
And everywhere, Tesla is heavily subsidizing loans with lower interest rates. That has been the main incentive in China, Teslaβs biggest market, until now.
Teslaβs New Discount in China
Today, Tesla announced that it is offering a Β₯10,000, the equivalent of $1,380 USD, discount on the final payment for new Model Y vehicles:
The new discount can be combined with Teslaβs subsidized 0% interest financing, which has been Teslaβs main incentive in China all year.
Electrekβs Take
Based on insurance data, Tesla is tracking ahead of last yearβs deliveries in China, but it is going to need to beat its last record by a significant margin to make sure not to be down for the whole year.
Model Y is Teslaβs most popular vehicle, but Tesla is also going against the expectation of the design refresh coming early next year, which can negatively affect demand.
This discount is likely to combat that and maintain Teslaβs current good momentum in China.
