Tesla Model 3 sales in China fall 64% in April
Sales of Tesla’s Model 3 in China fell by more than 64% in April compared with the previous month even as its factory in Shanghai reopened after the coronavirus lockdown.
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Tesla sold 3,635 Model 3 cars in April — down from 10,160 in March, the China passenger Car Association (CPCA) said.
That was despite a 9.8% month-on-month rise in electric car sales in China in April as the country’s economy tried to recover from the lockdown and its immediate aftermath.
The Shanghai factory was the company’s first outside of the US and had just begun delivering Model 3 cars to customers in China in January.
CEO Elon Musk said on 29 April that Tesla would lower the price of the Model 3 in China in an attempt to boost sales.
According to CPCA, Tesla sold 19,705 Model 3s in the first four months of 2020.
“We are making rapid progress on lowering the production cost in China, and we’re actually excited to announce on this call that we will be reducing the price of the Standard Range Model 3 basically tomorrow China time,” he said.
“And that will be a price below the subsidy limit, and we feel confident that that will still be a vehicle that delivers good gross margin.”