Image Credit: Tesla
EV maker Tesla has offered zero interest finance for its new and refreshed Model Y in China as it seeks to boost numbers in the face of growing competition from domestic players, and growing global pressure on its share price.
The moves in the world’s biggest electric vehicle (EV) market were first reported by local automotive outlet CnEVPost. It included news that Tesla has raised the price of the long-range version of its Model Y by RMB10,000, or the equivalent of around $A2,000 but the AWD version accounts for only a tiny fraction of sales.
Pricing for the entry-level rear-wheel drive New Model Y – as it is described on the Tesla website, following the car’s recent refresh – remained unchanged at RMB263,500, or around $A57,100, converted, and Tesla is offering zero interest finance on the RWD version.
The success of the Model Y relaunch will be crucial for Tesla as it fights consumer pushback in the European, north America and Australian markets, and intense competition from rival EV makers in the China market.
Electrek reports that insurance registration numbers released in China this week indicate that Tesla sold a less than expected 15,300 vehicles in China this week. It comes amid new initiates on autonomous driving by Zeekr and the growing number of competitive models by other Chinese EV makers.
Tesla share also fell significantly on Tuesday, with the stock losing another 5.3 per cent to close at $US225 a share, taking its falls just in the past week to 38 per cent. Arson attacks were reported against Tesla vehicles in Texas.
It was also reported this week that Tesla was planning to make a lower-cost version of the Model Y in an effort to make up the ground it is losing to its Chinese peers.
According to “three people with knowledge of the matter” who spoke to Reuters, Tesla is currently developing the cheaper Model Y under a project codenamed “E41”, and will begin building the car on existing production lines at its Shanghai Gigafactory some time in 2026.
Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.
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Tesla Model Y is the biggest selling EV in Europe YTD, even including the slowdown while they sold the old stock. Check out the lates video in the Best In Tesla YT channel
No - that was for 2024.............
..........in 2025 Tesla sales have collapsed, with VW at number One, BMW at number Two, Mercedes in number Three, Volvo at number Four and Kia at number Five.
Watch the video. You are simply wrong.
Do some research...............
......you are talking demonstrable bollocks.
Don't let facts get in the way of a good story my friend! /s
This quarter is doing to be a disaster for Tesla. Expect share price to drop to about $120 in Apirl or May.
It wouldn't matter if they were giving them away in China..................
...........Musk has just destroyed their credibility.
Contrary to what the fanatics of MAGA-world would have you believe, the Chinese people are not a bunch of beaten-down peasants just tonguing for "Democracy" (particularly not the laughable Yankee variety).
The CCP are actually popular with their citizens, and over the last fifty years have lifted nearly THREE TIMES THE POPULATION OF AMERICA out of poverty.
By comparison the average worker in America (if they are lucky enough to have a job) earns LESS TODAY THAN THEY DID IN 1970.
After his drug-induced brain-snap turning to the Dark Side, most Chinese despise Musk.
I think he is walking on eggshells with Xi, who can send him broke on a whim.
Love it
Musk is just trying to be of maximum service to all of us humans on this increasingly smaller, partisanal planet. It is the mean stream media bashing that is trying to destroy the brand. They are funded by misguided and resentful politicians AND Big Oil and Big Auto interests that are threatened by Tesla's growth and hence their decline! As a fairly long term TSLA shareholder, Musk has my total support . Rock on Tesla!
I bought Tesla shares at FIVE DOLLARS - which should give you an idea how long I held them.
I quit the and every other USA holding on the day Trump was elected as I could see that his "Policies" (Barf) would destroy the US economy.
There is nothing "Misguided" or "Resentful" about Musk smashing US establishments without thought or knowledge.
He has just gone apeshit.
You only have to look at the unintended consequences of destroying something purely based on ideology without a clue as to what it actually does.
Like the insanity of firing people who were charged with developing and taking care of the US Nuclear Weapons one day, and two days later being unable to hire them back because you'd removed them from the email list.
In any other system that would have seen him fired for cause within hours.
This is terrible reporting as Tesla's China sales are only down because of retooling and bringing out the new Tesla Model Y Juniper. I don't know what is wrong with people that their integrity goes so easily out the window in the endless pursuit of more clicks! Nasty! No, I didn't read the article as the headline tells me all I need to know....another bash Tesla story. Sad!
Your first claim is utter bollocks.
If it wasn't retooling it had to be bringing out the new model...........
If it wasn't bringing out the new model it must have been Chinese New Year...........
Tesla's Chinese sales were never all that smart to begin with - BYD outsell them six to one - and each month they get worse.
I don't know what is wrong with people that they can't check out the actual situation before blindly supporting their "Hero".
The man is a clear and present danger to life on earth....................
..........the sooner he f*cks off to Mars the better.
No doubt you are a Trumpista as well.
I'd point you in the direction of numerous Chinese chat rooms to see for yourself, but somehow I doubt that your Mandarin is all that bright.