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Home » Tesla China Announces Limited-Time Insurance Subsidy Model 3/Y and Model Y Price Hikes

Tesla China Announces Limited-Time Insurance Subsidy Model 3/Y and Model Y Price Hikes

Canaccord Genuity just cut his price target on $TSLA from $267 to $234

Tesla is spurring year-end sales in China with enticing finance offers across its lineup, alongside subtle Model Y price elevations. Available from November 28th through December 31st, buyers can score annual interest rates as low as 2.75% on 3 and 5-year loans when taking delivery. Stackable insurance and financing discounts bring additional savings up to 11,500 RMB off depending on the model 3 and Y.

Tesla China Announces Limited-Time Insurance Subsidy Model 3/Y

Kicking things off, the rear-wheel drive Model 3 and Model Y score a straight 8,000 RMB subsidy towards insurance costs. That drops their retail prices to 253,400 RMB and 258,400 RMB respectively – not bad for the “budget” models! Better yet, buying a Model Y, S or X through a referral link bags the referrer 7,000 points plus a free 90-day Enhanced Autopilot trial.

Yet in less exciting news, another round of mystery Model Y price hikes continues clouding Tesla’s positioning. Today saw the Model Y Long Range AWD variant bumped up by 2,000 RMB to 306,400 RMB – already its second increase this month. Since launches in 2020, the Model Y lineup has seen prices climb over 15% in China.

Whether due to supply chain pressures or adjusting for local demand, the continual fluctuations risk customer confusion. And creeping prices may eventually outweigh the temporary discounts on offer.

Here’s the latest pricing as of November 28th across the Chinese Tesla catalog:

– Model 3 RWD: 261,400 RMB
– Model 3 AWD Long Range: 297,400 RMB
– Model Y RWD: 266,400 RMB
– Model Y AWD Long Range: 306,400 RMB
– Model Y Performance: 363,900 RMB

With some variations now crossing the 300,000 RMB threshold, the Models 3 and Y risk losing positioning as Tesla’s “affordable” EV options as prices inch upmarket. Then again, buyers can offset costs through the stackable incentives.

As 2024 approaches, speculative trading may continue muddying Tesla pricing tactics in China. But between the tempting 2.75% APR financing, referral perks, and insurance breaks – this latest campaign undoubtedly sparks year-end sales as intended! Interested Chinese buyers would do well to crunch the numbers before rises or changes continue clouding budget planning.

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