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"I don't think the price cuts are over, mainly for the reason that demand is still weak," said Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments.
The Tesla Model 3 was the fifth best selling New energy car in China for 2022. BYD and SAIC-GM-Wuling sold more than the Tesla Model 3 did.
Citing a conversation that Elon Musk had with the South Korean president, today Reuters came out with a report claiming that Tesla has picked the east Asian country as one of its top candidates for the EV maker's next gigafactory. This new sent Tesla share surging rising by 8% in a single trading day.
Tesla China has reached a new domestic delivery record selling 55,100 vehicles between October 1 and November 21. This number significantly outperforms the previous record for a similar timeframe which stood at 43,000 vehicles.