Tesla's retail sales surged in China in January after it slashed prices for its top-selling models earlier in the month, data compiled by China Merchants Bank International (CMBI) showed.
retail sales surged in China in January after it slashed prices for its top-selling models earlier in the month, data compiled by China Merchants Bank International showed.
That compared to a 14.5% year-on-year decline in overall retail auto sales in China in the same week, although sales of electric and hybrid vehicles in the country increased 36.5%, the data showed.Tesla cut prices for the Model 3 and Model Y cars by between 6% to 13.5% in China from Jan. 6 in the face of what analysts said were signs of faltering demand and intensifying competition in the world's largest auto market.
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