Tesla China is offering the MIC Model 3 SR+ at 0% or low interest for two to five years. The promotion started on April 10 and runs until the end of the month. The nation’s number one bank, the Bank of China, has promoted the deal.
A flier revealed that Tesla offered a special promotion for the MIC Model 3 SR+ to credit card holders from the Bank of China. According to the promotion, interested buyers could pay as little as RMB¥45,000 down on the Standard Range Plus variant with 0% to low interest for two to five years.
According to a rough translation of the Bank of China’s flier, the MIC Model 3 SR+ promotion can not be used with insurance subsidies and replacement subsidies. Customers who take advantage of the deal can pick up their new vehicles five days after receiving a notice from Tesla.
Tesla Giga Shanghai's MIC Model 3 Demand May Spike With New Promo & Stronger Government Support For EV Infrastructure https://t.co/6X2niM9oe0 pic.twitter.com/gs4VDaEFFa— Tesmanian.com (@Tesmanian_com) April 17, 2020
The flier also reveals that the promotion applies to the MIC Model 3 SR+. A source close to the matter has informed Tesmanian that MIC Model 3 Long Range RWD customers may avail of a similar promotion at this time. So buyers interested in the locally-made Long Range RWD may want to ask sellers about the promotion as well.
The national bank’s promo reveals the Chinese government’s support for Tesla. As a previous Tesmanian report noted, the EV company ran a similar—or the same—promo. Informational fliers from Tesla China revealed three deals that may be too good to ignore for local customers. Tesla’s promotions also offered 0% or low interest for two to five years for specific MIC Model 3 variants.
The undeniably irresistible promotions could positively affect sales for the beginning of Q2 2020. Tesla’s Q1 2020 numbers were still impressive despite the virus plaguing the world. Most analysts agreed that the second quarter would be challenging for most businesses, especially as lockdowns and quarantine advisories lasted.
However, Tesla China seems to be working hard to deliver record numbers despite the pandemic with safety precautions set in place to protect customers and employees. Even if Giga Shanghai doesn’t sell as many vehicles as initially planned, the promos may be able to significantly decrease the damage projected for Q2 2020 from the effects of the virus.
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Tesla’s Q1 2020 Earnings Call was scheduled for Wednesday, April 29. Elon Musk and Tesla executive will likely share some details about how the company will be moving forward during Q2 if lockdowns and quarantine advisories persist.
As of this writing, Tesla Fremont Factory could resume operations by May 4. A US Homeland Security agency has deemed auto workers who manufacture, deliver, lease, etc. as essential, meaning Model Y production and deliveries could continue as early as May.
Featured Image Credit: Tesla China
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Ma. Claribelle Deveza
Longtime writer and news/book editor. Writing about Tesla allows me to contribute something good to the world, while doing something I love.