After Tesla’s entire range of models increased by 5,000 yuan. On April 3, the official launched the “0% interest” installment purchase activity. According to the promotional poster released by the official, if you place an order before April 30, and complete the delivery from April 3 to the end of June, you can enjoy a 5-year 0% interest activity. At the same time, the official also put forward the slogan in the poster: “Buy with ultra-low interest, drive freely for 3 years, and Tesla can repurchase the vehicle at 45% of the invoice price.”
From the limited-time benefits of this car purchase released by the official, it is still very powerful. Of course, behind Tesla’s introduction of preferential car purchases, there is a certain relationship with the increasingly fierce market competition and the poor sales in the first quarter. Recently, Xiaomi SU7 went on the market directly detonating the market, and Xiaomi SU7 is directly targeted at the Tesla Model 3 model. The launch of SU7 not only brings pressure to other car companies, but also has a certain impact on Tesla. Data shows that as of the launch of Xiaomi SU7, the number of large orders has exceeded 100,000.
Since the launch of Xiaomi SU7, according to incomplete statistics, more than 10 auto companies have announced price cuts. On April 1st, AITO adjusted the rights and interests of its new M7 model, lowering the price by 20,000 yuan. After the adjustment, the starting price of the new AITO M7 Plus rear-wheel drive version is 229,800 yuan. On the same day, XPeng Motors launched a limited-time discount of up to 20,000 yuan for the 2024 XPeng G9, and the price of the XPeng G9 after subsidies starts at 243,900 yuan. Wuling Motors also announced a price reduction, offering a discount of up to 10,000 yuan for its Wuling Binguo, and the price range of Wuling Binguo after subsidies is 55,800-83,800 yuan.
In addition, there are also NIO, Zeekr, Geely, Chery, FAW-Volkswagen, GAC Honda, Euler, and Lantu Automobile, all of which have launched limited-time subsidy policies for car purchases. Among them, NIO launched a maximum of 1 billion yuan for oil vehicle replacement subsidies. Users of oil vehicles who replace NIO’s 2024 new cars will receive an additional 10,000 yuan of optional fund subsidies outside the existing policies. Geely offers up to 53,000 yuan in discount policies for the Emgrand L HiP, Xingyue L, Bin Yue, Binrui COOL, ICON and other models.
The official announcement of Euler, from April 1 to 30, the whole series of Euler will open a limited-time discount purchase activity, with a maximum comprehensive discount of up to 40,000 yuan. GAC Honda also launched a limited-time purchase discount of up to 51,000 yuan, and at the same time enjoy 24 installments with 0 interest. From the limited-time car purchase policies released by car companies, one is more powerful than the other. Against this background, Tesla has to increase the discount.
At the same time, Tesla’s sales in China are gradually showing a weak situation. With the rapid launch of domestic new energy models, consumers have more choices than just Tesla. Data shows that Tesla China’s wholesale sales in March were 89,100 units, and a total of 220,900 units were delivered in the first quarter of this year, lower than the same period last year. For reference, Tesla delivered 229,300 units in the same period last year.
Of course, in order to stimulate sales, Tesla also announced a price increase policy before. However, from Tesla’s sales in the first quarter, the effect of the price increase strategy is not ideal, and Tesla’s sales in the first quarter are lower than market expectations. Currently, Tesla China’s main sales come from the domestic Model 3 and Model Y models. Some industry insiders pointed out that these two models, Model 3 and Model Y, have reached the late stage of their life cycle, and their product power is being overtaken by Chinese automakers.
Against the background of these various factors, it is not difficult to understand why Tesla launched a limited-time purchase discount activity. Automotive industry insiders believe that the biggest highlight of Tesla’s introduction of the purchase policy this time is not the 0% interest purchase, but the policy of repurchasing the vehicle at 45% of the invoice price after driving freely for 3 years. After all, the rate of retention is an important indicator to reflect the value of a brand and a model. Few car companies set the range of retention amount at 45%. As a reference, the minimum retention amount of Mercedes is set between 39% and 44%. And Tesla has reached 45% of this proportion, which also fully reflects Tesla’s confidence in its own products.
