Tesla China launches new promotions to kick off 2023

Tesla has kicked off 2023 in China by announcing several new promotions that will allow customers to take up to ¥10,000 off their Model 3 or Model Y purchase. The incentives are only for a limited time and are meant to replicate the national subsidy that expired at the end of 2022.

According to a post in the early hours of January 1, 2023 on Tesla’s official Weibo account, Model 3/Y buyers can receive a ¥6,000 (~$1,178 CAD/$870 USD) delivery incentive for any purchase between January 1 and February 8, 2023. Additionally, if the customer purchases insurance from an approved provider, they can receive another ¥4,000 (~$786 CAD/$580 USD) insurance incentive.

Add the two together and a customer can receive ¥10,000 (~$1,967 CAD/$1,450 USD) off their Model 3 or Model Y purchase, an amount roughly equivalent to China’s NEV subsidy that expired on December 31, 2022.

Unlike some of their other recent promotions, these offers are available on new orders as well as on inventory, demo and test drive vehicles.

Along with these two incentives, Tesla also launched a financing incentive where customers can receive a 3.5% interest rate if they take delivery prior to March 1, 2023.

These new incentives come at a time when Tesla has been seeing record sales in China. In November Tesla broke the 100,000 delivery mark in China for the first time, delivering 62,493 Model 3 and Model Y cars domestically in China, and exporting another 37,798 cars to other markets, for a total of 100,291 deliveries in the penultimate month of 2022.

That brought Tesla China’s delivery numbers in the first 11 months of the year up to 655,069 vehicles, a nearly 63% increase from the 402,231 units that were sold in the same period in 2021. With another strong month in December, Tesla China could account for more than half of Tesla’s total annual deliveries in 2023.

According to analysts on Wall Street, Tesla is expected to end the year with around 1,325,000 deliveries around the world. If that number is accurate it will come very close to Tesla’s 50% annual growth target. In 2021 Tesla delivered a total of 936,222 vehicles. Tesla should announce their Q4 and annual figures on January 2, 2023.

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