Tesla will start the new year by extending a subsidy of 6,000 yuan in China

Tesla will begin 2023 by extending its 6,000-yuan subsidy that began in early December. The automaker is offering buyers the Model 3 sedan and Model Y sport utility vehicle for up to 10,000 yuan ($1,450) if they take delivery before February 28.

Image Credits- HT Auto

Also, another 4,000-yuan subsidy tied to purchasing insurance through Tesla was first introduced in November. Concerns about demand in China contributed to a 37 percent drop in Tesla shares in December. While the automaker is expected to announce record quarterly deliveries in early January, it has already dropped its target of a 50 percent increase for the year.

With this in mind, it’s no surprise that Tesla China is taking the domestic EV market seriously. This could be hinted at by Tesla’s China official Weibo account, which recently posted a lot of encouragement for customers to welcome the new year. In the year To commemorate the start of 2023, for example, a delivery incentive of RMB 6,000 and an insurance subsidy of RMB 4,000 are now offered. A preferred rate for car loans through Tesla Financing and select lenders is also included.

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“The New Year is here, and so is the heart of Tesla! – Delivery incentive of 6,000 yuan for a limited time; 6,000 yuan limited delivery incentive; Preferred rate financing plan – New Year, give yourself and your loved one a new Tesla,” the EV maker wrote on Weibo. In addition to new incentives for vehicle shipping and insurance coverage, Tesla China also announced new benefits for customers trading in their vehicles. According to an EV maker Weibo post, 90 days of free Enhanced Autopilot (EAP) access will be offered to customers using the commercial offering for a limited time.

“Why not get a new car for the new year? Tesla’s official trade-in benefits are online for a limited time and other Tesla vehicles are waiting for a 90-day trial of enhanced automated driving (EAP) benefits. Tesla is a one-stop shop for trade-ins,” said the EV maker. It remains to be seen how Tesla China will perform in Q4 2022, although the EV maker has been pushing hard to deliver as many vehicles as possible. With China’s overall auto market showing signs of slowing and the country’s EV sector becoming more competitive, Tesla China is likely to defend and grow its market share in the country. To prove that she can, she will have to adopt a more powerful strategy than before.