Tesla Boosts Marketing In China, Highlights Safety Features During Year-End Sales Push: Report

Nabaparna Bhattacharya

December 04, 2024

Tesla, Inc. (NASDAQ:TSLA) reportedly ramped up its marketing efforts in China to boost sales during the year-end car-buying season. Grace Tao, Tesla’s vice president of external affairs, emphasized the safety of Tesla vehicles in a recent Weibo post, CnEV Post reports.

Tao highlighted the Model 3 received top ratings, earning five stars on both the China Electric Vehicle Fire Safety Index and Automotive Fire Safety certification, underscoring the brand’s safety credentials, the report read.

Recently, the EV behemoth was in the headlines for luring its customers with a new incentive to promote car purchases and capitalize on China’s auto consumption stimulus. The EV giant is offering Chinese customers the chance to win a tour of its Giga Shanghai factory.

Also Read: What’s Going On With NIO Stock Today?

Tesla China’s Gigafactory Shanghai is the EV giant’s largest by production volume, with an estimated annual output exceeding 950,000 vehicles, according to the third quarter 2024 Update Letter, Teslarati reported. The factory manufactures the Model 3 and Model Y for the domestic Chinese market and international markets.

Yesterday, the company said its 0% interest loan offer in North America on Models 3 and Y will end mid-December.

“0% APR for new Model 3/Y in the US will end on 12/15,” Tesla announced in an X post on Tuesday. “Order now and take delivery by 12/31,” Tesla further urged.

Tesla has never managed to deliver over 500,000 EVs in a quarter to date, making this an ambitious target.

In the third quarter, Tesla reported deliveries of 462,890 vehicles, up 6.4% year-over-year and up 4.3% quarter-over-quarter.

Deliveries fell 8.5% year-on-year in the first quarter and by 4.8% in the second quarter.

According to Tesla researcher Troy Teslike, Tesla might not touch its global delivery target this year owing to the drop in sales in the U.S. and Europe, despite the rise in China.

TSLA Price Action: Tesla shares are trading flat at $351.34 at publication Wednesday.

Read Next:

Tesla Car Crash In New York Claims 2 Lives, Cause Unclear: Report

Photo: Tesla Model 3, courtesy Tesla Inc.

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