Tesla is on a roll. Tesla sold 11,095 vehicles in China in May, its highest ever monthly sales in the world’s largest auto market. According to the China Passenger Car Association (CPCA), Tesla sold only 3,635 vehicles in April. So, Tesla sold more than triple the volume when compared to April.
Recently, Tesla announced price cuts for its cars in the US and China. The price cut varied from $2000 to $5000 depending on the model. Find the price cut details below.
- Tesla Model 3 now starts at $37,990 instead of $39,990 ($2000 price cut)
- Tesla Model S Long Range Plus now costs $74,990 instead of $79,990 ($5000 price cut)
- Tesla Model S Performance now costs $94,990 instead of $99,990 ($5,000 price cut)
- Similar price cuts for Model X models.
Despite the growing economic crisis around the world, and the general reduction in subsidies for EVs in Europe, USA and China, the company managed to deliver 88,400 vehicles, up 40% from 63,000 deliveries in Q1 2019. Given the poor competition in the premium electric sedan market, Tesla’s sales will continue to grow in the coming months.