Tesla Gets Record Number of China Buyers
According to an article, published at Bloomberg, Tesla keeps China's growth going with record Model 3 registrations. However, competition is coming, and there may be consolidation in the Chinese electric vehicle market.
According to China's Automotive Information Net registrations of Teslas rose 32% in June from the previous month. However, competition is going to intensify with BMW, Mercedes rolling out models.
Ville Heiskanen writes in Bloomberg.
"While the broader Chinese auto market is recovering slowly from a two-year slump, wealthier buyers are drawn to Tesla’s brand cachet. The EV market leader’s sales now approach a quarter of the total tally for the category, the China Passenger Car Association said this month, making life difficult for a slew of local upstarts trying to get their businesses off the ground. Through June, there were 49,761 Teslas registered in China.
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.