Tesla has again cut prices in China amid fierce competition – Kommersant
[ad_1]
Today, March 1st, Tesla announced about a discount of 8 thousand yuan ($1.1 thousand) for buyers of some models of its electric vehicles in China. Thus, the price of electric cars Model 3 and Model Y will decrease by more than 3% – to 245.9 thousand yuan ($34.1 thousand) and 250.9 thousand yuan ($34.8 thousand), respectively.
This is yet another price cut for Tesla electric vehicles over the past 12 months. So, in January she already reduced prices for Model Y and Model 3 by 3–6%. That’s because Tesla faces particularly stiff competition in China from local electric vehicle makers. Moreover, other companies are also significantly reducing prices – for example, one of the large Chinese manufacturers of electric vehicles, BYD, last week reduced prices on some models by 10%.
Competition is also intensifying as growth in electric vehicle sales slows. Sales of electric vehicles in China are expected to grow by 25% this year. For comparison: in 2023, sales of electric vehicles in the country grew by 36%, and in 2022 – by 96%.
Read the Kommersant FM publication to explain the success of the Chinese conglomerate. “BYD is catching up with Tesla”.
[ad_2]
Source link
