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Tesla forced to slash prices in China – Reuters Tesla forced to slash prices in China – Reuters
(about 1 hour later)
Cheaper EVs reportedly present stiff competitionCheaper EVs reportedly present stiff competition
Tesla has reduced prices for its vehicles in China by up to 13.5% due to low deliveries, Reuters reported on Friday, citing the Chinese website of the US electric car maker.The prices of all versions of Tesla’s Model 3 and Model Y were reduced by between 6% and 13.5%, Reuters writes, citing its own calculations, based on prices shown on the Tesla.cn website. Tesla has reduced prices for its vehicles in China by up to 13.5% due to low sales and deliveries, Reuters reported on Friday, citing the Chinese website of the US electric car maker.
The prices of all versions of Tesla’s Model 3 and Model Y were reduced by between 6% and 13.5%, Reuters writes, citing its own calculations, based on prices shown on the Tesla.cn website.
The US carmaker had already cut the prices of those models by up to 9% in October. Since September the company has also been offering incentives to Chinese buyers.The US carmaker had already cut the prices of those models by up to 9% in October. Since September the company has also been offering incentives to Chinese buyers.
The slump in demand has been partly attributed to the end of China’s more than decade-long subsidy for electric car buyers. Among other factors are stiff competition from domestic companies producing cheaper electric vehicles, and the latest Covid outbreak in the country.The slump in demand has been partly attributed to the end of China’s more than decade-long subsidy for electric car buyers. Among other factors are stiff competition from domestic companies producing cheaper electric vehicles, and the latest Covid outbreak in the country.
Tesla delivered 44% fewer China-made electric vehicles last month than in November, and in year-on-year terms, sales fell by 21%, including exports, according to data from the China Passenger Car Association (CPCA) published on Thursday. China accounts for roughly 40% of Tesla’s sales.Tesla delivered 44% fewer China-made electric vehicles last month than in November, and in year-on-year terms, sales fell by 21%, including exports, according to data from the China Passenger Car Association (CPCA) published on Thursday. China accounts for roughly 40% of Tesla’s sales.
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