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Reuters
Tesla’s China sales slow as price-cut boost wanes
Tesla Inc’s electric vehicle (EV) sales in China rose last week but were still running short of the pace seen in the fourth quarter, indicating the bump from discounted prices in its biggest overseas market is waning. The U.S. automaker nearly doubled weekly retail sales in the week of Feb. 20 to 10,703 vehicles versus a week prior, showed data from China Merchants Bank International (CMBI) on Tuesday, which tracks weekly retail sales based on car insurance registrations. The tally was the highest after that of the week of Jan. 9 when Tesla sold 12,654 Model 3 and Model Y cars after lowering prices by as much as 14% on Jan. 6.
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