Tesla has reintroduced an RMB 8,000 ($1,100) insurance subsidy for all Model 3 variants in China, marking the first major price adjustment in the market following the Chinese New Year. The limited-time offer, running from February 5-28, applies to customized orders, existing inventory, show cars, and test vehicles, provided customers purchase insurance from Tesla-affiliated providers.
The subsidy follows a recent price increase in January, when Tesla raised prices on all Model 3 variants by RMB 3,600. With the latest incentive, the starting prices for the rear-wheel-drive, long-range all-wheel-drive, and performance all-wheel-drive versions are reduced to RMB 227,500, RMB 267,500, and RMB 331,500, respectively.
Tesla is also maintaining its five-year zero-interest financing program until February 28, allowing buyers in China to secure a Model 3 with a down payment as low as RMB 79,900 and monthly payments starting at RMB 2,460.
The automaker has frequently deployed insurance subsidies as a pricing strategy in China, adjusting incentives throughout 2023 to remain competitive. The latest move signals renewed pressure on pricing in the Chinese auto market, where rivals may respond with their own promotions as demand fluctuates in the post-holiday period.
Source: CNEVPOST
