On the first day of the 2024 New Year, Tesla took the lead in lowering prices. All media reporters have noticed that this price reduction is mainly achieved through the official limited time benefits of "low financial interest rates" and "insurance subsidies" during the New Year. Taking the current Model 3 rear wheel drive version as an example, according to official subsidies, those who place an order and pick up the car before the end of January this year can enjoy a limited time insurance subsidy of 6000 yuan and save more than 16000 yuan in low interest discounts. When converted, the car purchase benefits directly exceed 22000 yuan. The Model 3 rear wheel drive version only starts at 255400 yuan for pick-up.
Specifically, by the end of January this year, if you place an order for the current Model 3 rear wheel drive version and pick it up, you can enjoy an insurance subsidy of 6000 yuan. At the same time, in terms of financial policy, purchasing and picking up all models of the "S3XY" during the event period will result in an annual fee rate starting at 1.99%. By the end of January this year, if you place an order for Model 3/Y and pick up the car, you can apply for a discounted interest rate loan plan with an annual fee rate starting from 1.99%; In the first quarter of this year, if you order a Model S/X and pick up the car, you can apply for a discounted interest rate loan plan with an annual fee rate starting from 2.5%. Tesla stated that the above benefits can be stacked and used.
It is reported that since November 2023, Tesla has undergone four rounds of price increases, including two price increases for the Model Y Long Range Edition. At present, Tesla's global models for sale include four models: Model 3, Model Y, Model S, and Model X. According to retail data from the China Association of Automobile Manufacturers, the cumulative sales of Model Y and Model 3 from January to November 2023 were 396300 and 131500 respectively. Tesla delivered a total of 1.324 million vehicles globally in the first three quarters of this year.
It is worth noting that in the just concluded year of 2023, BYD successfully achieved its target of selling 3 million vehicles. If we follow Tesla's delivery guide of 1.8 million vehicles for the entire year given in the 2023 third quarter report, it is equivalent to BYD's cumulative sales exceeding Tesla by 67%.