Tesla China appears to be resolved to beginning 2023 on a solid note. Through a new set of compelling incentives, the manufacturer of electric vehicles in China made its current offerings more appealing to customers as the new year began.

Not only is China the largest market for electric vehicles in the world, Additionally, it is undoubtedly the most competitive. Although Tesla’s electric cars, such as the Model Y crossover and the Model 3 sedan, generally dominate North America, the American manufacturer actually faces legitimate competition in China. From established firms like BYD to newcomers like NIO, these come in the form of electric vehicles.

It should come as no surprise that Tesla China is paying attention to the domestic EV market in light of this. This may be implied by Tesla China’s official Weibo account, which recently posted several offers for customers to celebrate the new year. For instance, a delivery incentive of RMB 6,000 and an insurance subsidy of RMB 4,000 are now offered to mark the beginning of 2023. Additionally, Tesla Financing and preferred lenders offered car loans at a reduced rate.

“The new year is here, and so is Tesla’s heart! — Limited-time delivery incentive of 6,000 yuan; Limited-time delivery incentive of 6,000 yuan; Preferential rate financial plan — New Year, give yourself and your loved one a new Tesla,” the EV maker wrote on Weibo.

A new benefit for customers who trade in their vehicles was also announced by Tesla China, in addition to the new incentives for vehicle deliveries and insurance. Customers who take advantage of the limited-time trade-in offer will have access to 90 days of free Enhanced Autopilot (EAP) access, according to the EV manufacturer’s Weibo post.

“Why not get a new car for the New Year? Tesla official trade-in benefits are online for a limited time, other brands of vehicles for Tesla, 90 days of enhanced automatic assisted driving (EAP) trial benefits waiting for you to get. Tesla is a one-stop shop for trade-ins,” the EV maker wrote.

Although the electric vehicle manufacturer has been working hard to ensure that it delivers as many vehicles as possible, it is still unknown how Tesla China performed in Q4 2022. Tesla China may need to adopt a more aggressive strategy than in the past in order to maintain and possibly even expand its market share in China, given that the country’s EV sector is becoming more competitive and the overall auto market is showing signs of a possible downturn.