Tesla’s retail sales surged in China in January after it slashed prices for its top-selling models earlier in the month, data compiled by China Merchants Bank International (CMBI) showed.
Average daily sales for Tesla in China during the Jan. 9 to 15 period jumped 76% from the same period in 2022. Total sales were 12,654 vehicles over that period.
That compared to a 14.5% year-on-year decline in overall retail auto sales in China in the same week, although sales of electric and hybrid vehicles in the country increased 36.5%, the data showed.
Tesla cut prices for the Model 3 and Model Y cars by between 6% to 13.5% in China.