fbpx

Type to search

Tesla Boosts Insurance Incentive in China to Lift Purchases

Buyers who order a Tesla EV this month will get an 8,000 yuan insurance incentive, but that offer will be slashed next month.


A Tesla Model S electric car is seen at its dealership in Seoul
Tesla's new prices bring the cost of some of its EVs closer to its top Chinese rival BYD’s best-selling models. Photo: Reuters

 

Tesla said it has boosted insurance incentives for car orders in China placed before the end of November – but cut them for orders made next month.

The US carmaker’s move on Tuesday is seen as a bid to get consumers to place orders earlier.

It previously offered an insurance incentive of 7,000 yuan ($970) for orders between October 1 and December 30.

But Tesla said the incentive for November was raised to 8,000 yuan and reduced for December orders to 4,000 yuan.

“As long as you like it enough, pick up Tesla immediately!” Tesla said in its official Weibo account when announcing the policy change.

The insurance incentive is a cash rebate offered to buyers to buy insurance from Tesla’s partner insurers.

Tesla delivered 71,704 China-made electric vehicles (EVs) in October, down 14% from a record high in September, according to the China Passenger Car Association last week.

Tesla also slashed starter prices in China for Model 3 and Model Y cars and closed what had been its flagship showroom in the country last month.

 

  • Reuters with additional editing by Jim Pollard

 

ALSO SEE:

 

Tesla Ships 11,400 Fewer China-Made EVs in October

 

China Evergrande Chairman’s $89m Hong Kong Mansion Seized

 

 

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

logo

AF China Bond