In April, Tesla Inc delivered 75,842 China-made EVs, representing a 14.7% decrease from March, according to the China Passenger Car Association. Nevertheless, this figure is significantly higher than last year’s deliveries of 1,512 China-made Model 3 and Model Y cars in April, which was attributed to the COVID-19 lockdown in Shanghai.
In contrast to Tesla, local competitor BYD Co sold 209,467 vehicles in April, an increase of 1.6% from March. CPCA is expected to release a more detailed report on China car sales figures for April next week.
By reducing prices in multiple global markets, Tesla instigated a price war in China that has attracted over 40 domestic and foreign car brands. As a result of the price cuts, automakers’ earnings have suffered, with Tesla experiencing a 24% decrease in first-quarter net income despite achieving a record quarterly global delivery high.
Tesla raised the prices of its two most popular models, the Model Y and Model 3, in Canada, China, Japan, and the United States this week. It also increased the prices of its new Model S and Model X vehicles in China by 19,000 yuan ($2,751) on Friday.
Additionally, plans are in place for Tesla to export the Model Y from its Shanghai factory to Canada later this year, marking the company’s first shipment of cars to North America from China, according to a production memo viewed by Reuters.