{"id":862,"date":"2023-07-03T06:05:32","date_gmt":"2023-07-03T06:05:32","guid":{"rendered":"https:\/\/260web.com\/news\/elon-musk-tesla-delivers-record-number-of-cars-after-price-cuts\/"},"modified":"2023-07-03T06:05:32","modified_gmt":"2023-07-03T06:05:32","slug":"elon-musk-tesla-delivers-record-number-of-cars-after-price-cuts","status":"publish","type":"post","link":"https:\/\/260web.com\/news\/elon-musk-tesla-delivers-record-number-of-cars-after-price-cuts\/","title":{"rendered":"Elon Musk: Tesla delivers record number of cars after price cuts"},"content":{"rendered":"

Elon Musk: Tesla delivers record number of cars after price cuts<\/p>\n

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\"Tesla<\/picture><\/span>Getty Images<\/span><\/div>\n<\/figure>\n<\/div>\n
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By Annabelle Liang<\/div>\n
Business reporter<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Electric carmaker Tesla says it delivered a record number of vehicles in the three months to the end of June, after cutting prices to boost sales.<\/b><\/p>\n<\/div>\n<\/div>\n

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It has lowered prices in markets including the US, UK and China to compete with rival manufacturers.<\/p>\n<\/div>\n<\/div>\n

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This weekend, major Chinese car makers also reported a surge in sales in June.<\/p>\n<\/div>\n<\/div>\n

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Earlier this year, Tesla boss Elon Musk said he believed pursuing higher sales, with lower profits, was the “right choice” for the company.<\/p>\n<\/div>\n<\/div>\n

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On Sunday, Tesla said it delivered 466,140 vehicles in the second quarter, which was more than 80% higher than a year earlier.<\/p>\n<\/div>\n<\/div>\n

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Meanwhile, the company said it had increased vehicle production to nearly 480,000 in the same period.<\/p>\n<\/div>\n<\/div>\n

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“Tesla has made a strategic choice to be a volume manufacturer,” Bill Russo, the founder and chief executive of advisory firm Automobility, told the BBC.<\/p>\n<\/div>\n<\/div>\n

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“This was the main contributor to the sales increase, as its mainly higher-volume Model 3 and Model Y benefitted from the price war,” he added.<\/p>\n<\/div>\n<\/div>\n

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Dan Ives from investment firm Wedbush Securities told the BBC that “the price cuts in China have been a smart poker move that was massively successful for Tesla”.<\/p>\n<\/div>\n<\/div>\n

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China is Tesla’s second largest market after North America.<\/p>\n<\/div>\n<\/div>\n

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The firm been cutting prices in the world’s second largest economy, where it faces competition from local electric car makers.<\/p>\n<\/div>\n<\/div>\n

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Over the weekend, Beijing based Li-Auto said its deliveries had hit an all-time high of 32,575 in June, marking its third consecutive monthly sales record.<\/p>\n<\/div>\n<\/div>\n

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Meanwhile, deliveries by Shanghai-based Nio and Guangzhou-based Xpeng jumped to 10,707 and 8,620 respectively during the month.<\/p>\n<\/div>\n<\/div>\n

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