Tesla Model X Inventory Sells Out In Hours In China
Well now, that didn’t take long at all.
Considering how pricey the Model X is, that’s quite a sales feat. Even more so when you consider that Tesla sells just hundreds of vehicles per day worldwide.
There’s a bit more to this record sales story though.
As Yicai Global reports:
“A Tesla Inc. dealership in Shanghai sold its entire Model X 75D stock in a single day after trimming car prices more than a month before China reduces its vehicle import tariffs.”
“Sales consultants at the store worked overtime yesterday to sign more than 10 deals…”
“The California-based firm is among a string of overseas carmakers who announced price cuts after the Customs Tariff Commission under China’s cabinet revealed that it would slash full-car import duty to a flat rate of 15 percent from 20 or 25 percent starting from July 1 this year.”
“Tesla was first to follow through on its promise and informed its dealerships of the change the same day, allowing buyers to benefit from the lower price despite the new tariffs not yet taking effect.”
It was all hands on deck to move the discounted vehicles as quickly as possible.
A rep at the local Tesla store noted the following
“The cars available were all imported from the States in April and May this year. After selling all of them, we’ll replenish stock when the new tariffs come in. We were losing out on profit with the lowered price as the cars were imported at the old tariff rate — the Model S 75D was CNY70,000 (USD11,000) cheaper.”
All new orders placed for Teslas in China will benefit from recuded pricing. Existing orders will not.
Source: Yicai Global