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Continue reading Tesla price cuts are the 'right medicine at the right time,' analyst says
Tesla price cuts are the 'right medicine at the right time,' analyst says originally appeared on Autoblog on Fri, 13 Jan 2023 11:43:00 EST. Please see our terms for use of feeds.
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The Tesla Model Y sold 315,314 units in 2022, which is 2.11 times that of the second-place Mercedes-Benz GLC.
Model 3 retail sales in China increased 24.53 percent in December compared to November, while Model Y sales decreased 43.94 percent from November.
Traffic and orders at Tesla stores in China's second- and third-tier cities have increased sharply after the price cut, with orders at stores in some cities up 500 percent from December, according to local media.
Tesla sold 55,796 China-made vehicles in December, down 44.37 percent from 100,291 in November and down 21.24 percent from 70,847 in the same month last year.
Chinese consumers don't really have a lot of options when it comes to buying EVs right now, and the country's NEV market is far from a zero-sum game, said Tesla's Grace Tao.
Tesla delivered more than 10,000 vehicles in China on the day of the price cut, with Ningbo, Zhejiang province seeing more than 200 Tesla vehicles delivered each day over the weekend just past, media report said.