Tesla China's New Automotive King Is The Model Y, Overtaking Model 3
Tesla China sold 19,120 Model 3 and 33,033 Model Y in September domestically, reports the Chinese Passenger Car Association (CPCA).
CPCA, responsible for tracking new vehicle registration has revealed the Model Y is officially the best-selling Tesla vehicle in China, overtaking the Model 3, which has been one of the biggest catalysts to the EV revolution in the country.
Tesla China's performance is a ramp to 400k/yr after only 7 months? So, an easy 600k for 12 months? With zero ads, remarkable.
I am not very surprised. Elon and Tesla have expected this for some time.
"I will be curious to see if a $25K can sell this quickly. Perhaps it should sell better. Why wouldn't they? There seems to be some marketing data that suggests a $5000 reduction in auto prices leads to a doubling in sales, so a $20-25k drop could lead to 10 times sales?," comments one person under Teslarati's coverage of this topic.
"By the time the '$25K' car comes out (2025?), it's going to be hard to make a compelling vehicle for that price. I think a lot of people are going to be disappointed when it doesn't happen. But I think it will happen, it will just mean a bit less profit for Tesla but that's what their profits today are all about, financing this entire shift to sustainable transport and energy. They are planning (Planning with a capital P) to make 20M vehicles/yr by 2030 (or so) and they won't be able to do that unless they meet the market at a much lower price level than what they are doing now," comments another user.
In the future when no export to Europe is needed, where do you think Tesla will send its excess cars from Giga Shanghai?
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.