Tesla China has extended zero-interest financing for Model 3/Y
Tesla has once again extended a promotion in China for zero-interest financing, following multiple extensions since the benefit first launched earlier this year.
Model 3 and Model Y buyers who purchase select trims in China can still get five-year, zero-percent interest financing when they take delivery by November 30, after the program was previously set to end on October 31. Upon launching in April, the incentive was set to end at the end of Q2, though Tesla later extended the program through July, before extending it each subsequent month through October.
Tesla is currently offering the zero-interest financing on all Model 3 and Y trims with the exception of the performance variants.
Credit: Tesla
Credit: Tesla
Tesla has been pushing hard to deliver as many vehicles as possible in markets worldwide, especially as it aims to reach 1.8 million deliveries to match its 2023 totals. China is also a crucial market for the automaker, and the home of Tesla’s Gigafactory Shanghai, which produces vehicles for China and a wide range of other markets in the Asia-Pacific region.
According to insurance data, Tesla has delivered roughly 13,200 new vehicles in China and Giga Shanghai-supplied regions in the third week of Q3, marking a 55-percent jump from the prior week. Although the automaker doesn’t bust out week-to-week data on vehicle deliveries in China or other markets, insurance data can serve as a proxy to gather estimates about these figures.
Tesla delivered 48,202 of its best-selling vehicle, the Model Y, in China in September, according to data from the China Passenger Car Association (CPCA). The total represented Tesla China’s highest domestic sales of the Model Y year-to-date in the country, which is relatively unsurprising given that the company regularly pushes deliveries extra hard in the final month of each quarter.
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Author: Zachary Visconti