Chinese customers who order a new Tesla vehicle through its official trade-in service before December 3 will have the chance to win a visit to Tesla's Shanghai factory.
Tesla (NASDAQ: TSLA) has launched a new car purchase incentive to encourage potential customers to take advantage of China's auto consumption stimulus.
From now until December 3, Chinese customers who order a new Tesla vehicle through its official trade-in service and take delivery within the contract period will have the chance to win a tour of Tesla's Giga Shanghai, the US electric vehicle (EV) maker announced today on Weibo.
Tesla is offering the lucky winner a free round-trip airfare and 1-night hotel stay, according to the company.
Tesla's poster shows that it is offering a total of 10 offers, and the winners can each bring a companion for free.
The move comes at a time when Tesla China's wholesale sales -- including those for export -- fell significantly in October, despite various local governments in China introducing car-buying incentives to encourage people to trade in their old cars for new ones.
Tesla China sold 68,280 vehicles in October, including those sold in China and exported from China to overseas markets, the lowest since April, according to data released yesterday by the China Passenger Car Association (CPCA).
That's down 22.69 percent from 88,321 in September and down 5.32 percent from 72,115 a year ago.
Tesla's Shanghai factory makes the Model 3sedan and Model Y crossover, both for deliveries to local customers and as an export hub for it.
Tesla's deliveries in China last month as well as export figures from the Shanghai plant are not yet known, they are expected to be known in the next few days.
Giga Shanghai, which began construction on January 7, 2019 and became operational at the end of 2019, is China's first wholly foreign-owned auto manufacturing project.
The factory is Tesla's largest in the world, with a current capacity of nearly 1 million units per year, according to its third-quarter 2024 financial report.
On October 11, Tesla announced that its Shanghai factory saw its 3 millionth vehicle roll off the line, just 13 months after its 2 millionth unit.
The fourth quarter of the year is usually the peak season for auto consumption in China, and this year, new energy vehicle (NEV) sales are expected to hit another record high, fueled by the government's stimulus.
Wholesale sales of China's passenger NEVs are expected to be 1.4 million units in October, up 58 percent year-on-year and up 14 percent from September, the CPCA said in a report yesterday.
As of now, all provinces in China have introduced and implemented car trade-in subsidy policies and launched other policies to promote car consumption, bringing a new wave of growth momentum to the car market, the CPCA said.
China announced a trade-in subsidy policy for car purchases in April this year and increased the subsidy amount in July. Over the past few months, local governments have released details of their own policies.
Back to Tesla, in late May, the company had offered a free tour of its Fremont factory as one of the tools to boost sales in China.
Among the regular incentives, Tesla has been offering a 5-year, 0 percent interest financing program for car purchases since April.
Tesla further extends 5-year 0-interest loan incentive in China to Nov 30
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