The Clap
Tesla (NASDAQ:TSLA) is expected to report very strong Q1 results in China after being the first EV maker to cut prices.
What
From January 1 to March 19, Tesla’s retail sales in China were 106,915 vehicles, 1,371 units per day on average. This is slightly more than the 1,327 units sold per day on average in Q4 2022.
So What
Despite cutting costs by up to 13.5%, Tesla was still outsold by nearly 5 times by BYD in January-February.
Tesla’s stock is up nearly 8% as of yesterday’s session.
Now What
Tesla is planning to offer refreshed versions of Model 3 and Model Y in order to lure more customers.
