Tesla Motors Inc Starts Old Car Trade-in Program In China

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Tesla Motors Inc Starts Old Car Trade-in Program In China
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Tesla Motors is initiating a trade-in program for Chinese buyers, enabling them to replace their old cars and then buy a Model S. The move is a part of the electric vehicle maker’s strategy to enhance sales of its sedan in the biggest vehicle market.

China an important market for Tesla

Tesla Motors is all set to enter into an agreement with used car traders to buy vehicles from customers in Beijing, Shanghai and Hangzhou, according to an email to Bloomberg. The value of the old car the person sells will be deducted from the Model S price, which starts at 648,000 yuan ($104,000) in China. The Palo Alto-based company started shipping the Model S to China since April, and according to the CEO Elon Musk, the company will be able to produce the Model S in China within three to four years.

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