Decreasing prices for Tesla cars in China led to a sharp increase in orders

The previously announced price cuts for Tesla vehicles in China led to a sharp increase in car orders.

Price offer for Tesla cars in China incurrently the most attractive in the world, despite the subsequent price changes in Europe and the US. It is noted that the price reduction led to an increase in orders for Tesla cars by 30,000 units during the first three days after the decrease. In some Chinese cities, demand for Tesla increased by 500% at once. At the same time, Tesla China Vice President Tao Lin noted that the price reduction for Tesla cars was the result of the serious work of the development team, who managed to optimize many processes and achieve a noticeable cost reduction. Tesla failed to meet its annual target of 1.5 million units in 2022, stopping at 1.31 million vehicles. Covid restrictions in China were cited as the reason for this, which prevented Gigafactory Shanghai from operating at full capacity, but the company intends to catch up and ramp up production.