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| Tesla China exports soar as overall Chinese EV sales surge 275% | Tesla China exports soar as overall Chinese EV sales surge 275% |
| (about 1 month later) | |
| Electric car giant Tesla has significantly expanded its production and export of made-in-China (MIC) vehicles, reaching a new all-time record last month, data from the China Passenger Car Association (CPCA) has revealed. | Electric car giant Tesla has significantly expanded its production and export of made-in-China (MIC) vehicles, reaching a new all-time record last month, data from the China Passenger Car Association (CPCA) has revealed. |
| In August, its total volume of sales reportedly increased 275% year-over-year, and amounted to 44,264 units, including 31,379 for export. The month-over-month increase reportedly totalled 29%. | In August, its total volume of sales reportedly increased 275% year-over-year, and amounted to 44,264 units, including 31,379 for export. The month-over-month increase reportedly totalled 29%. |
| Meanwhile, local sales of China-made cars rose to 12,885 vehicles last month, compared to the 8,621 that were sold in the country in July. The relatively low level of local sales has been attributed to the company’s major focus on exports. However, domestic sales of Model 3 sedans and Model Y sport-utility vehicles saw a growth of 9% year-over-year. | Meanwhile, local sales of China-made cars rose to 12,885 vehicles last month, compared to the 8,621 that were sold in the country in July. The relatively low level of local sales has been attributed to the company’s major focus on exports. However, domestic sales of Model 3 sedans and Model Y sport-utility vehicles saw a growth of 9% year-over-year. |
| The growth in sales and output comes amid severe worldwide chip shortages, which continue to weigh on automakers across the world. | The growth in sales and output comes amid severe worldwide chip shortages, which continue to weigh on automakers across the world. |
| In July, Tesla unveiled a cheaper, lower-range, made-in-China Model Y. Its lower price makes the vehicle eligible for government subsidies, which brings the price down to $42,600 – nearly 20% less than the longer-range Model Y. The automaker also lowered the starting price for Model 3 sedans. | In July, Tesla unveiled a cheaper, lower-range, made-in-China Model Y. Its lower price makes the vehicle eligible for government subsidies, which brings the price down to $42,600 – nearly 20% less than the longer-range Model Y. The automaker also lowered the starting price for Model 3 sedans. |
| Earlier this year, Tesla announced that it would transform its Shanghai GigaFactory into a major automobile export center. In China, the automaker faces increased scrutiny from both regulators and the public, as well as growing competition from local rivals. | Earlier this year, Tesla announced that it would transform its Shanghai GigaFactory into a major automobile export center. In China, the automaker faces increased scrutiny from both regulators and the public, as well as growing competition from local rivals. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
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