As the holiday season approached, the U.Sstock market experienced a notable upswing, particularly highlighted by Tesla's remarkable performance on December 24. On this day, stock trading was limited to three hours due to the Christmas holiday, yet the markets still managed to end the trading session with all major indices risingAmong these was Tesla Inc., whose stock increased by 7.35%, closing at $462.28. This surge translated into a significant market valuation gain of approximately $100 billion, pushing Tesla's overall valuation to a staggering $1.48 trillion.

The rise in Tesla's stock price didn't happen in a vacuum; it was propelled by a series of favorable news items circulating within the capital marketReports indicated that the production rate for the new Tesla Model Y had soared to an average of around 200 vehicles per day, with anticipation building that reservations could start as early as January 2025. Furthermore, the completion of the Tesla Shanghai energy storage super factory, which began operations in May, is projected to wrap up by the end of 2024, adding to the company’s production capabilities.

In response to these developments, a representative from Tesla China offered a vague remark about the flood of "strange messages" circulating in the media but provided no confirmation regarding the new Model Y's progress

Subsequent inquiries made by journalists to Tesla sales personnel revealed that they had yet to receive official instructions or confirmation related to the reported advancements.

Despite the lack of a formal affirmation from Tesla, the company launched a promotional campaign on December 24 for the existing Model Y vehiclesThis campaign featured an enticing offer: a discount of 10,000 yuan on the down payment for consumers purchasing an existing modelFurthermore, buyers were granted the option to utilize previously announced financial schemes, such as a five-year, zero-interest plan to facilitate their purchasesThe retail prices for the rear-wheel drive Model Y and the long-range all-wheel drive version were set at 249,900 yuan and 290,900 yuan respectivelyWith the promotional discount applied, the effective sale prices dropped to 239,900 yuan and 280,900 yuan, marking a historical low price for the Model Y globally.

However, this promotional offer raised questions, as recent communications from certain sources suggested that, aside from limited availability in specific regions, the current Model Y stock was largely sold out

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A Tesla sales representative from Beijing noted that while the long-range Model Y was still available, the rear-wheel drive version was in high demand, making its availability uncertain and requiring them to check the inventory.

Interestingly, similar promotional practices were adopted by Tesla before the launch of the revamped Model 3. For instance, an initiative was rolled out in mid-August 2023 that allowed consumers who placed orders for the rear-wheel drive Model 3 to enjoy a subsidy of 8,000 yuan, provided they completed the purchase process by the end of September 2023 while also securing insurance through one of Tesla’s partnered institutions.

This strategic promotion led industry experts to speculate that the recent offers on the Model Y might aim to clear out the existing stockpile in preparation for the introduction of the new modelCurrently, Tesla's lineup in the market includes the Model 3, Model Y, Model S, Model X, and the much-anticipated Cybertruck, with the Model Y notably accounting for the bulk of Tesla's sales in the Chinese market.

Market data corroborates this sales dominance, showing that in the first three quarters of the year, Tesla sold a total of 460,000 vehicles in China

Out of these, approximately 338,700 were Model Y units, while Model 3 sales accounted for roughly 122,000 vehiclesTogether, they represented a staggering 73.37% and 26.52% of Tesla's total sales in China for that period, respectively.

Looking toward the future, Tesla has exciting plans for new model launchesDuring a recent investor meeting, the company hinted at debuting a completely new model named "Model Q" in the first half of 2025, alongside a uniquely designed long-wheelbase Model Y developed specifically for the Chinese marketAdditionally, it has also been announced that the Shanghai Gigafactory is set to generate a six-seater version of the Model Y, with a three-row layout expected to be ready for delivery by the fourth quarter of next year.

As competition in the electric vehicle market intensifies, many analysts believe that refreshing key models has become a necessary strategy for Tesla

Recent financial reports show that globally, Tesla delivered 1.294 million electric vehicles during the first three quarters of the year, reflecting a year-on-year decline of 2.3%. The sales in the first and second quarters witnessed significant drops of 8.5% and 4.8%, respectively.

To address these challenges, Tesla has implemented various promotional strategies worldwideThroughout the year, Tesla China has made at least five reductions to its official pricing and introduced initiatives such as zero down payment options and five-year zero-interest plansBeyond China, the company has also rolled out purchasing incentives in the U.Sand European marketsFor instance, in the U.S., Tesla owners who pick up their vehicles by the year-end can enjoy three months of free supercharging and benefits from the Full Self-Driving (FSD) optionSimilarly, European customers purchasing a Model Y before the end of the year can receive a complimentary year of supercharging service.