Tesla offers limited-time 8000-yuan insurance subsidy on Model 3 in China

Beijing (Gasgoo)- On February 5, Tesla announced via its official Weibo account a limited-time insurance subsidy of 8,000 yuan for all locally-made Model 3 variants in China, available until February 28. The promotion also includes a five-year zero-interest financing option.  

Model 3; photo credit: Tesla

This marks the first time Tesla has extended its insurance subsidy to the entire Model 3 lineup in China. Post-subsidy, the rear-wheel-drive version starts at 227,500 yuan, the long-range all-wheel-drive version at 267,500 yuan, and the performance all-wheel-drive version at 331,500 yuan.  

This is not Tesla's first price cut in China this year. In late December 2024, the automaker launched a year-end promotion for the Model Y, offering an immediate 10,000-yuan discount on the rear-wheel-drive and long-range all-wheel-drive Model Y variants for orders placed by January 31, 2025.

In China, Tesla achieved record-breaking sales in December 2024, which jumped up 12.8% month on month to 83,000 units. Throughout 2024, the EV maker saw its China sales rise 8.8% from the previous year to 657,000 units. Among which, annual sales of the Model Y surpassed 480,000 units.