Tesla facilitating Chinese trade-ins for Model S buyers

Tue, Dec 30 2014

When many people buy a new vehicle in the US, it's quite common to trade in an older model at the same time. Not only does the decision knock a little money off the purchase, but there's often not enough room for an extra car taking up room in the driveway. Now, Tesla is extending that option to some of its buyers in China in hopes that the added convenience boosts sales.

According to Bloomberg, Tesla is working with used car traders in Beijing, Shanghai and Hangzhou to help buyers dump their old vehicles. That value is then deducted from the price of the customer's new Model S.

Tesla is still a rather new entrant into China but seems to be performing well. The company began selling the Model S there in April, and it only took a few months to deliver the first 1,000 vehicles. It didn't hurt that the initial pricing was lower than expected, the first 3,000 buyers in Shanghai have been eligible for a free license place, a roughly $15,000 value. According to Bloomberg, the electric automaker has opened nine stores and service locations in six Chinese cities, so far. The business is also considering opening a factory there at some point in the future.

News Source: Bloomberg
Image Credit: Wang Zhao / AFP / Getty Images

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By Chris Bruce