Tesla has started a new 'Ownership Loyalty Program' in China, encouraging customers to trade in their old Tesla vehicles for a brand new one in exchange for various perks and rewards. The latest scheme is a departure from the norm for Tesla, which steadfastly avoids discounts in any form. In fact, CEO Elon Musk has categorically stated that the company won't entertain negotiations and won't offer any discounts on its cars unlike traditional automotive dealerships. However, despite Musk's stated stance, the company has been known to offer the occasional discounts and rewards for customers to boost sales, especially before the end of the quarter.

Tesla is one of the preeminent EV-makers in the world, having sold more than 936,000 cars last year. The company's products sit at the premium end of the market, meaning they are priced higher than that of their rivals in each segment. Despite the premium pricing, Tesla often struggles to meet demand, thanks to its cars having attained cult status among EV enthusiasts around the world. However, despite its popularity, Tesla recently lost its pole position globally when Chinese auto major BYD surpassed it to become the world's largest EV-maker.

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Tesla has launched a new loyalty program in China that encourages customers to trade in their old vehicles for a new one. The news, which was first shared late last month by Tesla enthusiast Ray4Tesla, suggests that the rewards will be available between now and Sept. 30. Owners who opt for the exchange offer during this period will receive a 50 percent discount on the Full Self Driving package, as well as 15,000km (around 9,320 miles) of Supercharging credits, and home charger installation savings of about 8,000 yuan (around $1,180).

Will Tesla's Loyalty Program Come To The U.S.?

Tesla cars in charcoal, red, white, and blue with logo in red

At this stage, it is unclear whether Tesla is testing the new loyalty program in China before a potential wider rollout or if it will be limited to China for the foreseeable future. While many Tesla owners in North America are already clamoring of the new loyalty program to be introduced in the U.S. and Canada, it is unlikely to happen any time soon, given Tesla's dominance in the EV market in these countries.

It is a curious time for Tesla to introduce a loyalty program, especially as the company has been vocal about supply constraints and not being able to meet burgeoning demand. However, unlike in the rest of the world, Tesla is under immense pressure in China to retain market share, so the policy does make sense in the country. All things considered, it will be interesting to see if the loyalty program will come to the U.S. going forward, especially with a slew of new EVs launching in the country, and often with more affordable price tags than even the cheapest of Teslas.

Next: What Is The Tesla Flying Car And Can You Buy One?Source: Ray4Tesla/Twitter