A Tesla store in Jinan, East China's Shandong Province. Tesla cut the price of its best-selling model in China by up to 13.5% percent in January, setting off an electric car price war.Tesla, the world’s top-seller of electric vehicles, said its deliveries jumped 36% in the year’s first quarter, coinciding with big price cuts in North America and China and the temporary availability of federal tax credits for U.S. customers.vehicles, up by about 113,000 units from a year ago.
“Clearly, since the Model Y/3 price cuts were implemented early this year demand has been robust during the course of 1Q led by the key China region, which should enable Tesla to at least hit the ~420k bogey for the quarter with possible upside,” Dan Ives, an equity analyst for Wedbush Securities, said in a research note last week. “That said, the macro remains uncertain and we would not be surprised to see more slight price cuts around the edges both in the U.S.
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