TMTPOST --  Tesla Inc. recorded highest monthly sales in China to the date of this year, reported Shanghai Observer, a news media outlet under the state-owned Shanghai United Media Group.

Credit：Shanghai Observer

Tesla sold more than 73,000 electric vehicles (EVs) in China in November, the highest monthly sales of this year, and Gigafactory Shanghai delivered 79,000 vehicles that month, representing a 15% month-over-month, according to the report.

The sales surge was partially driven by China’s efforts to boost the auto industry including consumption of new energy vehicles (NEVs) these months. The report cited analysis that NEV sales are poised to continue to rise at the end of the year since automakers typically rush to sell cars at the year end to meet their annual goals.  

China's Ministry of Industry and Information Technology (MIIT), in collaboration with four government bodies, has launched a nationwide campaign to bolster the NEV uptake in China's rural areas in May. The initiative will run from May to December 2024 and has been designed to bridge the current NEV consumption gap in rural regions, thereby enhancing residents' level of green, safe travel and contributing to the construction of beautiful villages and rural revitalization. The NEV rural promotion catalog features an impressive array of 99 models from leading auto manufacturers, encompassing a wide range of NEVs for various sectors, including sedans, SUVs and multipurpose vehicles.

The Chinese government said in August it has increased a financial stimulus to encourage consumers to scrap their old vehicles and buy new ones. Subsidies for trade-ins of new energy passenger vehicles have doubled from RMB10,000 -- a figure stipulated in an April document -- to RMB 20,000, per the circular, which was released by the Ministry of Commerce and six other government departments. Subsidies for trade-ins of fuel passenger vehicles have been raised from RMB7,000  to RMB15,000. The new policy applies to all subsidy applications submitted between April 24 this year and Jan. 10, 2025.

The Shanghai municipal government ramped up the stimulus measures to boost auto sales. It offered a RMB15,000 one-time purchase subsidy for qualified individual buyers of new all-electric vehicles priced above RMB50,000 from November 1 to December 31. Buyers of new fuel efficient gasoline cars will receive 12,000 yuan subsidy for the same period. The subsidies will apply to those who trade in old cars not registered in Shanghai.

Tesla also doubled down promotional efforts. Chinese customers who order who order the Model Y Rear Wheel Drive (RWD) and Long Range All Wheel Drive (AWD), and take delivery of their vehicles between November 25 and December 31 can take advantage of a RMB 10,000 ($1,379) discount on their purchase, Tesla China announced on November 24 on Chinese social media platform Weibo. The additional  discount is not applicable for the Tesla Model Y Performance. Without the discount, the Model Y RWD starts at RMB 249,900, the Model Y Long Range AWD starts at RMB 290,900, and the Model Y Performance starts at RMB 354,900. With the discount in place, customers can acquire the Model Y RWD for RMB 239,900 and the Model Y Long Range AWD for RMB 280,900 before options.

Besides, Tesla China has extended its five-year 0% loans for the Model 3 and Model Y to December 31. And the 0% interest offer can be stacked on top of the aforementioned RMB 10,000 discount for the Model Y RWD and Model Y AWD.