Tesla, Thanks to its price reduction strategy, it got back on its feet in China. According to a report from the China Passenger Association, Tesla’s domestic retail sales rose almost 26% in February. Tesla’s Gigafactory Shanghai delivered a total of 74,402 electric vehicles in February. The company’s retail sales last month were recorded as 33,923 units.
Experts predict that the company will see a steady increase in sales thanks to the price cut, which ranged from 6% to 13% in January alone. The company has lowered prices for all Chinese-made Model 3 and Model Y versions. The starting price of Model 3 was reduced by 13.5% to 229,900 yuan (33,515$), while the starting price of Model Y was reduced by 10% to 259,900 yuan ($37,889).
Tesla is experiencing its golden age thanks to its new price strategy
Tesla, It has lowered its price twice since October 2022 to regain its market and increase sales amid slowing demand and sluggish economy. It seems that the company cannot afford to lose the Chinese market, the world’s largest consumer of electric cars and the automobile market.
Tesla, Just three days after lowering its price, it received orders for 30,000 new electric cars. After the second price cut, the second and third cities saw a notable increase in demand. In fact, some stores showed a 500% increase in sales after the price cut.
Price cuts were so significant that many existing Tesla The owner protested against the company, thinking that they were giving the company overpriced vehicles and that after the price cuts, the value of the vehicles would decrease significantly.