Tesla's competition for the Model Y is growing quickly in China

Tesla's competition for the Model Y is growing quickly in China

Tesla vehicles are presently sold in China however those fabricated in the USA will confront levies that could make them more costly than any Chinese contenders. About this he wrote on Twitter.

Tesla at the time said it was "retaining a critical piece of the tax to help make vehicles progressively reasonable for clients in China". "From Ireland to Kiev, from Norway to Turkey", he concluded. And with a sticker price that will likely resemble the Model 3's, the Model Y will launch in the United States with very little direct competition when you consider the premium attached to the electric SUVs from Jaguar, Audi, Mercedes-Benz, and Porsche.

Tesla customers who take delivery between January 1 and June 30, 2019, will receive a $3,750 tax credit and those who take delivery between July 1 and December 31, 2019, will receive $1,875.

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This Q4, Tesla engaged in a rather assertive campaign promoting the Model 3 to Europe and Asia.

Tesla Inc. shares were trading at $304.86 per share on Wednesday afternoon, up $9.47 (+3.21%).

To start with, Tesla had announced a third price cut in China in two months, reports Reuters. Notably, Model 3 deliveries accounted for approximately 80% of all Tesla deliveries for the quarter. Over the course of the year, Tesla passed through challenge after challenge as it ramped the production of the electric sedan. In November, the company cut the prices of its Model X and Model S cars by 12 to 26 percent.

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The price of the Model 3 Dual Motor All-Wheel Drive has been cut from 540,000 yuan (US$ 78,302) to 499,000 yuan while the Model 3 Performance is 35,000 yuan cheaper, with the new price set at 560,000 yuan.

As 2018 edges closer towards its end, Wedbush Securities analyst Dan Ives says demand for Tesla Model 3 sedan "looks very strong into 2019 and beyond".

On Monday, the shares of Tesla were sliding down, experiencing a fall by 2.61 percent thereby reaching a value of $312.

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