Competition between Tesla and Chinese domestic rivals is intensifying as the U.S. firm continues to launch incentives to keep its cars attractive.

U.S. automaker Tesla's sales of China-made electric vehicles fell 11.5% to 63,238 units in January from a year earlier, data from the China Passenger Car Association showed on Friday. Deliveries of China-made Model 3 and Model Y vehicles were down 32.

EV automaker announced some pretty dismal numbers, including a net year-over-year sales decline and weak earnings numbers that included a 71% dip in net income to $2.3 billion. Despite signs pointing downwards,