The company is offering Model 3 sedan and Model Y sport utility vehicle buyers as much as 10,000 yuan ($1,450) if they take delivery by February 28, according to Tesla’s website.
In addition, the carmaker is also extending a 6,000-yuan subsidy it started offering in early December, and the other 4,000-yuan subsidy tied to purchasing insurance through Tesla was first introduced in November, as per Bloomberg reports.
Concerns about demand in China contributed to Tesla shares plunging 37% in December, the most dismal month in what also was the stock’s worst-ever year. While the automaker is expected to announce record quarterly deliveries in early January, it’s already ruled out meeting its objective to grow by 50% for the year.
Tesla also offered discounts in the US to close out the year, first dangling $7,500 off just the Model 3 and Y, then extending that offer to the more expensive Model S and X.
Meanwhile, Tesla CEO Elon Musk advised the staff not to be "bothered by stock market craziness" after the company's shares dropped over 70% this year due to concerns about waning demand of electric vehicles and Musk's distraction from running Twitter.
He opined that Tesla will eventually be the most valuable company on the planet in an email to staff that was sent on Wednesday and reviewed by Reuters. Musk also urged staff to increase deliveries at the end of this quarter after the automaker provided discounts on its cars in China and the US.
(With Bloomberg inputs)
