Tesla expands 0% APR financing deal on the Model Y even as it sells the most of any EV in China

Tesla has topped the electric vehicle sales charts in China, where it has shipped the whopping 43,370 units of the new Model Y facelift in March.

Last week alone, Tesla sold 23,000 new Model Y vehicles, according to the insurance registration counts, its third-best week since it started selling vehicles in China.

To keep the momentum going there, however, Tesla has now expanded its 0% APR financing offer on the RWD Model Y facelift to include the non-Launch Series AWD version that has been on sale in China since February.

Contrary to its typical sales ratio of about 80% RWD models there, Tesla had longer delivery times for the AWD Model Y trim last month. It even raised its price by the equivalent of $1,380 to sync demand with the production rate from Giga Shanghai.

At the time, the RWD trim commanded only a 2-4 weeks delivery window, while the AWD Model Y orders were being delivered in 6–10 weeks. With the 0% APR financing rate offer on the RWD version, Tesla apparently managed to achieve the desired surge in orders, and has now rebalanced the AWD trim wait times to a 3-5 weeks delivery timeframe.

The price of the dual-motor Model Y facelift hasn't gone back down, though, but Tesla extended the same 0% APR financing deal to the AWD version as well.

The 0% APR offer on all Model Y trims in China will run until the end of April for a 36-month payment term. Tesla apparently wants to keep the momentum going well into the second quarter, even after all the early adopters have already gotten a new Model Y.

In other regions like Europe its sales appear to be struggling because of Elon Musk's political activism, but the current quarter will bring a clearer picture if that is what caused the demand slump there, or if it was potential buyers who were postponing their purchase to wait for the release of the new Model Y refresh.

Whatever the reason, Tesla is posting its Q1 delivery numbers on April 2nd, and they are not expected to be as pretty as in China everywhere.

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