Tesla has recently extended its three-year, zero-interest financing offer in China to include the long-range variant of the facelifted Model Y. This move marks the first time that Tesla is offering this financing incentive for both variants of the updated SUV in the Chinese market.
In addition to the financing offer, Tesla has also reduced the delivery wait time for the long-range all-wheel drive variant of the Model Y from the previous 6-10 weeks to just 3-5 weeks. This suggests that demand for this particular variant may be slowing down compared to the rear-wheel drive version.
The American electric vehicle (EV) manufacturer made the announcement on Weibo, stating that customers who purchase any variant of the facelifted Model Y before April 30 can take advantage of the three-year interest-free financing offer. The promotion is prominently displayed on Tesla China’s website, making it easy for customers to access the incentive.
The facelifted Model Y was launched in China on January 10, with deliveries commencing on February 26. The model is available in two variants: a rear-wheel drive version and a long-range all-wheel drive version, priced at RMB 263,500 and RMB 313,500 respectively.
Tesla initially introduced the three-year, zero-interest financing incentive for the rear-wheel drive version of the Model Y in China on March 18. At the same time, the price of the long-range version was increased from RMB 303,500 to RMB 313,500. This adjustment was likely made to balance orders for both variants, as the delivery wait time for the entry-level model was shorter than the long-range version.
Despite facing some challenges with order cancellations, the Model Y remains a popular choice in China and is crucial for Tesla’s continued success in the country. To stay competitive in the market, Tesla’s Chinese team is reportedly working on a “cheaper Model Y” to attract more customers. The launch of this new model will depend on the performance of the updated Model Y in the market.
Looking ahead, Tesla is also planning to launch a lower-priced Model Y, internally codenamed “E41,” which will enter mass production at the Tesla Shanghai factory in 2026. This move is part of Tesla’s strategy to expand its product lineup and appeal to a wider range of customers.
In addition to the Model Y, Tesla continues to offer the five-year, zero-interest financing option for the Model 3 electric sedan until April 30. This promotion aims to attract more customers and drive sales for the popular electric vehicle.
Overall, Tesla’s latest financing offers and product developments in China demonstrate the company’s commitment to expanding its presence in the world’s largest EV market. With a focus on affordability and customer incentives, Tesla is poised to maintain its competitive edge in China’s rapidly evolving automotive industry.
