Tesla seeks a comeback in China with refreshed Model 3 and Model Y



Tesla, faced with a shrinking market share in mainland China, plans to follow the lead of its local rivals by rolling out larger and longer-range variants of its Shanghai-made vehicles to entice consumers.
A six-seat Model Y and an upgraded edition of the Model 3 that has an 800km driving range were likely to strengthen the US carmaker’s mainland deliveries in the coming months, but it might not be sufficient to regain its dominance in the country’s premium electric vehicle (EV) segment, according to dealers and analysts.

Tesla was expected to begin delivering the refreshed Model 3 and Model Y to mainland customers as early as September.

“Tesla has learned a lesson from its Chinese rivals – luring consumers with updated editions,” said Tian Maowei, a sales manager at Yiyou Auto Service in Shanghai. “It pins hope on the new tactic to adapt to the changing consumer trends in the market.”

According to the China Passenger Car Association (CPCA), Tesla’s share of the mainland EV market fell to 3.8 per cent in June from 6.9 per cent a year earlier. The company’s EV sales accounted for 16 per cent of the national total in 2020, when its Shanghai Gigafactory opened.

The Shanghai factory, Tesla’s largest production hub worldwide, builds only fully electric Model 3 and Model Y sport-utility vehicles.

  • Related Posts

    Japan to fund India’s power grid with $492 million under new Asia energy initiative: Report – Firstpost

    Japan is set to provide up to 80 billion yen (around $492 million) in financing for a major electricity transmission project in India, marking the first initiative under a new…

    Continue reading
    US job growth slows sharply to 57,000 in June; unemployment dips to 4.2% as labor force shrinks – Firstpost

    The US labor market lost momentum in June as employers added far fewer jobs than expected, while the unemployment rate edged lower only because hundreds of thousands of Americans exited…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *