XPEV - Tesla China Sales Surge In August After Price Cuts: Did EV Maker Outpace Chinese Rivals? | Benzinga
Tesla, Inc.'s (NASDAQ:TSLA) China sales rose both year-over-year and month-over-month in August, thanks to price cuts amid a tough macroeconomic and competitive environment, according to preliminary data released by the China Passenger Car Association.
Tesla August Sales Rise
Tesla sold 84,159 made-in-China electric vehicles in August, marking a 9.4% increase from the 76,965 units it sold in the year-ago period, Reuters reported.
On a month-over-month basis, sales climbed 30.92% from the 64,285 units sold in July.
CPCA's preliminary estimates do not give a break-up between exports and domestic sales. Tesla typically produces for the domestic market in the second half of the quarter. More detailed results giving the split will likely be released in the following week.
The Elon Musk-led company's Giga Shanghai factory manufactures both Model Y and Model 3 EVs.
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