Seeking to increase sales in China, Tesla cuts wait for new cars

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Seeking to increase sales in China, Tesla cuts wait for new cars

Robert Besser
19 Nov 2022, 14:39 GMT+10

In an announcement this week, Tesla said it has cut delivery waiting times for all Model 3 and Model Y vehicles sold in China to a minimum of one week
Information from China Merchants Bank International showed that the U.S. electric vehicle maker added to its inventory in Shanghai at its fastest pace ever in October
This came at a time when automakers and investors are preparing for a downturn in China, the world’s largest car market

BEIJING, China: In an announcement this week, Tesla said it has cut delivery waiting times for all Model 3 and Model Y vehicles sold in China to a minimum of one week.

Information from China Merchants Bank International showed that the U.S. electric vehicle maker added to its inventory in Shanghai at its fastest pace ever in October.

This came at a time when automakers and investors are preparing for a downturn in China, the world’s largest car market.

In order to boost sales, Tesla also cut prices for its Model 3 and Model Y cars in China last month, while last week it offered an additional rebate for buyers who take delivery this month and buy insurance from one of its partners.