Just days after introducing Tesla’s revolutionary 0% downpayment requirement for China, the company has withdrawn it. Customers from China who wish to acquire their Teslas can now do so for a minimum 10% down payment instead.
Tesla has announced that it will halt sales of the Model 3 in China, according to reports from local Chinese news agency Sina Finance. According to Tesla China‘s data, the company was concerned about potential delays on the delivery dates for its EVs after seeing a large increase in vehicle purchases as a result of the 0 percent minimum downpayment plan.
According to Tesla China’s online configurator, the Model 3 Standard Range Plus is now forecasted to arrive between six and ten weeks. The Model 3 Performance, on the other hand, simply specifies a fourth-quarter delivery date. Given what Tesla China informed local news sources about information allegedly provided by the company, it appears that Tesla is attempting to avoid potential delays in vehicle deliveries towards the end of next ye
Despite the termination of Tesla’s 0% minimum downpayment program, a 10% minimum downpayment is still a very attractive offer for its electric vehicle models. After all, Tesla’s locally produced vehicles in Giga Shanghai, the Model 3 and Model Y, are regarded as two of China’s best electric cars owing to their commitment to technology and safety. It may be reasonable to assume that despite adopting a 10% minimum downpayment system, Tesla China’s vehicle sales would remain strong.
Tesla’s presence in China is gaining momentum, so it was only a matter of time until reports indicated that numerous cities throughout the country were attempting to entice the company for a possible second electric automobile manufacturing facility. However, Tesla China VP Grace Tao categorically denied the report of a second Tesla Gigafactory in China, stating that it was untrue.