Tesla (NASDAQ: TSLA) is providing a RMB 10,000 ($1,380) discount on two variants of its Model Y in China until December 31, as speculation grows about a potential update to the popular crossover.
The discount applies to the entry-level rear-wheel-drive and long-range all-wheel-drive versions but excludes the higher-priced all-wheel-drive Performance model.
The offer covers customized, stock, and showroom vehicles, but not test drive or official used cars. Customers must finalize their purchase and take delivery by December 31 to benefit from the discount.
This promotion comes as Tesla extends its 5-year, 0% interest financing program for all Model 3 and Model Y variants in China through the end of the year.
Tesla’s Model Y is one of China’s best-selling electric vehicles, accounting for 74.67% of Tesla’s 500,685 deliveries in the country from January to October, with 373,852 units sold—up 7.91% year-on-year.
Industry insiders suggest the discount may signal the arrival of an updated Model Y, as spy shots and reports hint at changes. Codenamed “Project Juniper,” the refresh is expected to feature exterior and interior updates, with production likely to begin in 2024.
Tesla has not confirmed these updates, but earlier reports indicate plans for a 5-seat “Juniper” version with deliveries expected in Q1 2024, alongside a 7-seat variant slated for late 2025. Recent rumors also suggest that a six-seat version of the Model Y could enter production in China by 2025.