Tesla took many people by surprise toward the end of 2022 as it offered a growing list of incentives in China, and then eventually added deals in other parts of the world, including the US. It shouldn't have been too surprising since the EV brand always pushes at end of the quarter and the end of the year. However, the incentives are continuing and even improving into the new year, at least in China.
We don't know yet exactly how Tesla fared with Q4 2022 deliveries, though it's clear that the company's wave of incentives accelerated sales and reduced inventory. There have been many questions about whether Tesla's 2022 deals would just apply to the end-of-the-year push, or would maybe continue into 2023.
We'll have to wait and see what happens in the US and other areas going forward, but we do know now, according to Teslarati, that Tesla China is kicking off the new year with new and arguably more appealing incentives.
While Tesla's Giga Shanghai is the automaker's official export hub, it obviously also produces and delivers EVs for the local market, where the US brand has loads of compelling competition. In order to continue its sales success and potentially secure owners for the massive number of cars the Tesla China factory is able to produce, the company is offering a delivery incentive, an insurance discount, and appealing financing rates.
Teslarati reported that Tesla recently shared on its official Weibo account in China:
“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."
In addition to the above incentives, there's also a temporary trade-in offer:
“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."
As you can clearly see, Tesla is "advertising" the incentives as special benefits for the new year. Automakers across the globe commonly take advantage of holidays as an excuse to deliver enticing deals to consumers. Do you think Tesla is offering such incentives due to waning demand or aiming to truly ramp up sales to a whole new level?
