Tesla offers additional discount to Chinese buyers on some models

  • Reuters
  • Stock Market News
Tesla offers additional discount to Chinese buyers on some models
Credit: © Reuters.

SHANGHAI (Reuters) - Tesla (NASDAQ: TSLA ) is offering a limited time discount of 6,000 yuan ($859.20) to Chinese buyers on some models from Wednesday through to the end of 2022, a company representative said on Wednesday.

This comes in addition to a previously announced 4,000 yuan insurance subsidy, but is only applicable for customers buying a current car model and completing delivery by the end of December.

Local media outlet Wallstreetcn first reported the discount.

© Reuters. FILE PHOTO: A Tesla electric vehicle (EV) drives past a crossing in Shanghai, China March 9, 2021.  REUTERS/Aly Song/File Photo

The move is the latest by the U.S. automaker to adjust its prices in China. The company has cut prices for Model 3 and Model Y cars by up to 9% in China, in addition to the insurance incentives, as its Shanghai plant grapples with elevated inventory levels amid slowing demand in China's auto market.

These steps helped the Shanghai factory deliver 100,291 China-made electric vehicles (EVs) in November, up 40% from October and the highest monthly sales since it opened in late 2020.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100