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Tesla Gets Good News from China as Car Sales Recover

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The Association of Auto Manufacturers of China held a press conference recently, saying the Chinese auto production and sales have rebounded to pre-virus level due to favorable policies. Car sales in China in April reached the same level in the same period of last year. This bodes well for electric vehicles, Tesla included.

We know that recently China gave some good EV incentives to new electric car buyers and Tesla specifically lowered the price of Model 3 in China to meet the requirements of these EV incentives. As a result, we learned and Torque News reported on this channel that the first couple of days Tesla was reporting more than 1,000 Model 3 sales each day.

It looked like the Chinese car incentives and new policies were working.

Reuters reports that China’s vehicle sales are estimated to rise 11.7% on year in May, its top auto industry body said on Tuesday, cementing hopes of a recovery in the world’s biggest auto market with the first back to back monthly sales increase in about two years.

The China Association of Automobile Manufacturers (CAAM), in a post on its official WeChat account, said vehicle sales were estimated to rise to 2.14 million in May. It said the numbers were based on sales data it had collected from key companies, without giving further details.

#Tesla
#CarSales
#TeslaChina

This is Armen Hareyan from Torque News. Please, visit us at https://www.TorqueNews.com for daily car sector news and follow us on Twitter at https://twitter.com/torquenewsauto for daily automotive sector tweets.

Reference
Ray4Tesla
https://twitter.com/ray4tesla/status/1267819420455284740
Reuters https://www.reuters.com/article/us-china-autos/china-auto-sales-growth-seen-for-second-straight-month-boosting-recovery-hopes-idUSKBN23910U
Category
Electric Vehicles

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