UPDATE 1-Tesla offers additional discount to Chinese buyers on some models

Reuters
·1 min read
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(Adds background on Tesla's price cuts, other incentives)

SHANGHAI, Dec 7 (Reuters) - Tesla is offering a limited time discount of 6,000 yuan ($859.20) to Chinese buyers on some models from Wednesday through to the end of 2022, a company representative said on Wednesday.

This comes in addition to a previously announced 4,000 yuan insurance subsidy, but is only applicable for customers buying a current car model and completing delivery by the end of December.

Local media outlet Wallstreetcn first reported the discount.

The move is the latest by the U.S. automaker to adjust its prices in China. The company has cut prices for Model 3 and Model Y cars by up to 9% in China, in addition to the insurance incentives, as its Shanghai plant grapples with elevated inventory levels amid slowing demand in China's auto market.

These steps helped the Shanghai factory

deliver 100,291 China-made electric vehicles

(EVs) in November, up 40% from October and the highest monthly sales since it opened in late 2020. (Reporting by Zhang Yan and Casey Hall; Editing by Christian Schmollinger)