Tesla (NASDAQ:TSLA) is offering an 8,000 yuan ($1101.08) insurance subsidy on purchases of Model 3 vehicles in China in a bid to attract customers as intense market competition continues to disrupt the automaker’s share of China's EV market.

Tesla Inc.’s China-made wholesale deliveries fell to the lowest in more than 2 1/2-years last month, adding to a troubling slide in global sales at a time Chief Executive Officer Elon Musk is increasingly distracted by politics.

Tesla sold 30,688 China-made vehicles in February, a 49% plunge from a year ago. The data comes shortly after figures showed a plunge in European sales.