Tesla Inc.’s China deliveries surged last month as the electric-vehicle maker cut prices and rolled out the long-anticipated revamped Model 3.
(Bloomberg) — Tesla Inc.’s China deliveries surged last month as the electric-vehicle maker cut prices and rolled out the long-anticipated revamped Model 3.
The carmaker, headed by Elon Musk, delivered 84,159 vehicles from its Shanghai plant in August, according to preliminary data from the China Passenger Car Association. The numbers represent a 31% jump from July and a 9.3% increase from a year earlier.
Tesla ignited another round of the price war in August, cutting the cost of some versions of the Model Y by about 4% in mid-August. While Musk previously said global production would drop in the third quarter due to downtime for factory upgrades, momentum in the Shanghai plant seems to have picked up again. August was the third-highest month for deliveries so far this year.
Read More: Tesla Reignites EV Price War With New Round of Cuts in China
The launch of the revamped Model 3 on Sept. 1, which is priced 12% more than the older version, was followed quickly by cuts of as much as 21% on the company’s top-end offerings, such as the Model X Plaid.
–With assistance from Danny Lee.
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