Tesla changes insurance incentive scheme in China to urge purchases

Author of the article: SHANGHAI/BEIJING — Tesla Inc said it has raised insurance incentives for car orders in China placed before Nov. 30, but reduced them for orders made next month, a move to urge consumers to place orders earlier. The U.S. automaker previously offered an insurance incentive of 7,000 yuan ($970) for orders between…
Tesla changes insurance incentive scheme in China to urge purchases

Author of the article:

SHANGHAI/BEIJING — Tesla Inc said it has raised insurance incentives for car orders in China placed before Nov. 30, but reduced them for orders made next month, a move to urge consumers to place orders earlier.

The U.S. automaker previously offered an insurance incentive of 7,000 yuan ($970) for orders between Oct. 1 and Dec. 30. But on Tuesday Tesla said the incentive for November was raised to 8,000 yuan and reduced for December orders to 4,000 yuan.

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“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.

($1 = 7.2403 yuan) (Reporting by Zhang Yan and Brenda Goh in Shanghai, Liz Lee and the Beijing newsroom; Editing by Jacqueline Wong and Tom Hogue)

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