Tesla Tempts Chinese Buyers With Cash Rewards, Autopilot Perks After Pledging To 'Socialist' Fair-Price Play
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has announced a reward of 3,500 yuan ($484) for Model Y and Model 3 buyers in China with a referral, along with 90 days of free access to the company’s enhanced autopilot system. This comes a day after Tesla pledged to avoid abnormal pricing in China. During Q2, over 53% of Tesla's global sales were made in China. Tesla, along with BYD and 14 other companies, signed a letter expressing a commitment to fair competition and the promotion of core socialist values in the Chinese auto market.
July 07, 2023 | 12:02 pm
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Tesla's new incentives for Chinese buyers could boost sales in the region, which already accounts for over half of the company's global sales. This could have a positive impact on Tesla's stock.
Tesla's decision to offer incentives to Chinese buyers is a strategic move to boost sales in a region that already accounts for over half of its global sales. This could lead to increased revenues and potentially a positive impact on the company's stock price.
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IMPORTANCE 80
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