Tesla offers additional discount to Chinese buyers on some models

A logo is displayed on a Tesla Inc. electric vehicle charging at the Tesla Supercharger station in Fremont, California, U.S., on Monday, July 20, 2020. Tesla Inc. is scheduled to release earnings figures on July 22. Photographer: Nina Riggio/Bloomberg

Tesla is offering a limited time discount of 6,000 yuan ($859.20) to Chinese buyers on some models from Wednesday through to the end of 2022, a company representative said on Wednesday.

This comes in addition to a previously announced 4,000 yuan insurance subsidy, but is only applicable for customers buying a current car model and completing delivery by the end of December.

Local media outlet Wallstreetcn first reported the discount.

The move is the latest by the U.S. automaker to adjust its prices in China. The company has cut prices for Model 3 and Model Y cars by up to 9% in China, in addition to the insurance incentives, as its Shanghai plant grapples with elevated inventory levels amid slowing demand in China's auto market.

These steps helped the Shanghai factory deliver 100,291 China-made electric vehicles (EVs) in November, up 40% from October and the highest monthly sales since it opened in late 2020.