STOCKS | Tesla, Xiaomi, Nio And Others Step Up China Auto Discounts

Tesla said on Sept. 7 that customers who place orders and take delivery of existing inventory vehicles before Sept. 30 can get cash incentives of RMB5,000 on the full Model 3 range and RMB10,000 on the full Model Y range, with some trims eligible for an additional RMB8,000 insurance subsidy. With a five-year zero-interest offer, Model 3 prices start at RMB222,500, with a down payment of RMB79,900 and monthly payments from about RMB2,377, according to ETNet. Tesla China said both the refreshed Model 3, launched in September 2023, and the refreshed Model Y, launched in January 2025, are now at their lowest prices ever across the full range. Tesla also introduced a simplified, lower-priced Model 3 version in Hong Kong and Macau at the end of August. The report said Nio, Xiaomi, Li Auto, Xpeng and Avatr have also rolled out promotions as China enters the traditional September-October peak sales season, with more than 10 automakers releasing purchase incentives in September. ETNet reported that the broader passenger vehicle market remains under pressure, with January-August retail sales down 20% year on year and industry profitability weakening.