Tesla Raises Prices in China Amid Slumping Sales

Chinese EV Start-ups Report Rising Deliveries as Tesla Struggles

Tesla's sales in China continue to decline, with insurance registrations for Tesla vehicles standing at 13,000 units in the week of November 6-12, down from 14,000 units in the previous week.
Despite the sales slump, Tesla has been raising the prices of its Model 3 and Model Y vehicles in China, with the latest increase bringing the price of the Model 3 to 261,400 yuan and the Model Y to 266,400 yuan.
Tesla's Shanghai Gigafactory delivered 28,626 units to mainland Chinese customers in October, a month-on-month decline of 34.2 per cent.
Chinese EV start-ups Li Auto, Xpeng and Nio reported rising deliveries in mainland China last month, potentially benefiting from Tesla's price hikes.
Tesla delivered 378,800 vehicles in China from January to October, an increase of 62.2 per cent year on year, despite the recent sales slump.