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

    Tesla’s 91% February sales jump in China defies overall market slowdown

    Tesla has emerged as a rare outlier in China’s slowing electric vehicle (EV) market, posting a massive sales surge in February even as domestic leaders like BYD grapple with double-digit…

    Continue reading
    Hong Kong stocks extend losses as US and Iran dig in heels amid escalating conflict

    Hong Kong stocks fell as the US-Iran war shows no signs of ending, with a hardline stance from both sides pushing oil prices up. The Hang Seng Index fell 0.5…

    Continue reading

    Leave a Reply

    Your email address will not be published.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