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Tesla Model 3 Sales in China Soared 7% in August

September 10, 2020 4:52 am

Beijing (PingWest)—Sales of Tesla Model 3 in China reached 11,811 units in August, an increase of 7% compared to 11,014 units in July.

Data from the Chinese Passenger Car Association (CPCA) indicates that Tesla sold 7% more vehicles in August than July, showing a sizeable increase in sales during the eighth month of the year. 

Tesla signed a deal to build the Shanghai Gigafactory in July 2018, and delivered its first car on January 1, 2019. The locally-produced cars offer a large price saving over imported models, and the company could lower prices further as it cuts costs and uses more locally-sourced components.

The Chinese market has shown a strong demand for the company's most affordable sedan. To date, nearly 71,000 Model 3 have been sold in China, making it the most popular electric car in China. As of the end of July, Tesla's sales accounted for more than 13% of China's total electric vehicle market.

It is speculated that the American electric car manufacturer will also produce made-in-China Model Y in February 2021. According to state-owned news outlet Global Times, the main structure of the second phase of Shanghai Gigafactory, which is meant to produce Model Y, has now been completed.