Tesla is on track to achieve its best quarter ever in China for the local market. Brokerage data show that the company's domestic retail sales are breaking all records.
According to data from China Merchants Bank International, Tesla's retail sales in China from January 1 to March 19 were 106,915 units. This means that the company was selling an average of 1,371 vehicles per day. This figure is slightly higher than the 1,327 units it sold on an average daily basis in the fourth quarter of 2022 in China, when Tesla sold a total of 122,038 vehicles. Sales for Q4 2022 are the strongest to date, however Q1 2023 could beat this record.
Tesla has boosted its sales in China after cutting car prices in the first week of January. The company was the first in the country to apply the new strategy to attract consumers and received a significant positive effect from this. The price reduction is made possible by the fact that the manufacturer has a higher profit per vehicle than others in the industry. In the weeks following Tesla's price cut, some competitors followed suit.
Tesla sales in China in the first two months of the year were 7.9% in the new energy vehicle sector, which includes pure electric and plug-in hybrids. This is slightly more than 6.8% in the same period last year.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.