On the first day back from the Chinese New Year holiday, a price war erupted in the car market, with “5 years 0 interest” becoming a key selling point. Tesla China launched its Model 3 New Year package, offering an 8,000 RMB ($1,100) insurance subsidy, bringing the price down to 227,500 RMB ($31,100), along with a 5-year 0-interest financing option. This is the first time Tesla’s insurance subsidy has applied to all Model 3 variants, including the Performance version. Meanwhile, Xpeng Motors introduced a unique “5 years 0 interest and 0 down payment” policy on several models, including the X9, G9, P7i, and G6, offering up to 57,000 RMB ($7,800) in subsidies. Nio also announced a similar 5-year 0-interest financing option, with low down payments and additional perks.