Tesla is offering a limited-time discount in China for two less expensive variants of the Model Y, probably because the crossover's major refresh is not far away.
Tesla (NASDAQ: TSLA) is offering a limited-time discount on the Model Y in China, possibly because an updated to the crossover is not far off.
The US electric vehicle (EV) maker said on Weibo today that Chinese customers who order the two less-expensive variants of the Model Y between November 25 and December 31 can receive a RMB 10,000 ($1,380) reduction when they make their final payment.
The Model Y is available in China in an entry-level rear-wheel-drive version, a long-range all-wheel-drive version, and an all-wheel-drive performance option, with starting prices of RMB 249,900, RMB 290,900, and RMB 354,900, respectively.
The discount announced today applies to the rear-wheel drive and long-range all-wheel drive versions of the Model Y. The highest-priced all-wheel drive Performance edition is excluded.
The discount applies to customized vehicles, stock vehicles that have been produced, and show cars, while excludes vehicles used for test drives and official used vehicles.
Customers need to take delivery of their vehicle by December 31 or the benefit will automatically expire.
Tesla doesn't offer the discount for the Model 3, a sedan that is available in China in a rear-wheel-drive, long-range all-wheel-drive, and all-wheel-drive performance options, currently starting at RMB 231,900, RMB 271,900, and RMB 335,900, respectively.
The current delivery wait times in China for all variants of the Model 3 and Model Y are 1-3 weeks, as before.
Meanwhile, Tesla has further extended the 5-year, 0 percent interest financing incentive in China applicable to all variants of the Model 3 and Model Y until December 31, according to its China website.
Tesla initially launched the 5-year 0-interest financing incentive in China on April 3, the first time it has offered the program in the country.
Over the past few months, the EV maker would essentially announce a one-month extension of that incentive at the end of each month, both calling it time-limited.
Tesla last announced an extension of its 5-year, 0 percent interest financing program on October 27, when it extended the offer to November 30.
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