On September 7, 2026, Tesla China announced price cuts for the Model 3 and Model Y inventory vehicles. Customers who place orders and take delivery of inventory vehicles by September 30 will receive a 5,000 RMB cash incentive for Model 3 and 10,000 RMB for Model Y, with some models eligible for an additional 8,000 RMB insurance subsidy.
With financial and optional equipment benefits stacked, the Model 3 starting price dropped to 222,500 RMB, which Tesla officially called its "lowest price in history." Visits to Tesla stores in Shanghai surged after the announcement, with consultation volumes nearly doubling compared to the previous week.
Chinese NEV brands quickly responded with their own autumn promotions. Zeekr offered direct cash reductions of up to 20,000 RMB on select models, while Xiaomi, Leapmotor, and Harmony Intelligent Mobility Alliance launched limited-time benefit packages including insurance subsidies, replacement incentives, zero-interest financing, and intelligent driving benefits.
Industry analysts noted that the 2026 NEV price war has evolved from direct price cuts to complex bundled benefit packages, with some brands offering combined benefits exceeding 100,000 RMB without touching the sticker price.
Source: IT Times / Sina Finance
