Tesla’s facelifted Model Y in China has been met with great success, with reports indicating that the vehicle has accumulated an impressive 200,000 orders since pre-orders opened on January 10. These figures, however, include a significant number of refundable orders, as highlighted by local media outlets.
One of Tesla’s primary objectives in the Chinese market this year is to introduce the highly anticipated Cybertruck electric pickup truck. Despite the limited demand for pickup truck models in China, the innovative and progressive nature of the Cybertruck could potentially attract a new wave of young consumers to the Tesla brand.
The revamped Model Y has been a standout performer in China, with reports from 36kr suggesting that each Tesla store in Beijing has been receiving nearly 100 new orders per day since pre-orders commenced. Journalists who visited four Tesla stores in Beijing noted that there was a lack of foot traffic in the stores, indicating that there was no need for customers to wait for test drives.
It’s worth noting that a large portion of the 200,000 orders for the Model Y are refundable orders. Prior to the commencement of deliveries, the pre-order page for the Model Y indicated that the deposits were refundable, a message that disappeared once deliveries began on February 26.
The Model Y Launch Series, which included two variants with different price points, saw more than 6,000 units delivered in the first week after deliveries started. The launch series was available for a limited time until February 28, offering buyers an additional two-year or 40,000-kilometer extended warranty.
Following the conclusion of the Launch Series promotion, Tesla began selling the regular version of the new Model Y in China on March 1, maintaining the same prices but discontinuing the extended warranty incentive. Customers ordering the rear-wheel-drive version of the Model Y can expect a 2-4 week wait, while those opting for the long-range all-wheel-drive version may have to wait 6-10 weeks.
In terms of software updates, Tesla rolled out version 2024.45.32.12 in China a day before Model Y deliveries began, introducing FSD-like smart driving features. While these features generated excitement among customers, Tesla salespeople have advised against purchasing the FSD package priced at RMB 64,000, citing that the current features are trained based on foreign data and may not perform optimally in Chinese conditions.
Looking ahead, Tesla’s plans to introduce the Cybertruck in China reflect the company’s commitment to innovation and capturing the interest of the younger demographic. Despite the challenges posed by limited demand for pickup trucks in the Chinese market, the Cybertruck’s cutting-edge design and technology could serve as a catalyst for reinvigorating interest in Tesla’s offerings among Chinese consumers.
