Sales of Tesla Inc. fell in China by 70% due to tariffs

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Sales of Tesla Inc. fell in China by 70% due to tariffs

November 27, 2018 - 12:00
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Sales of Tesla Inc. fell last month in China by 70% compared with the last year, Reuters reports with the reference to passenger cars association of the country. So escalating conflict between US and China hits US electric cars producer.

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Sales of Tesla Inc. fell last month in China by 70% compared with the last year, Reuters reports with the reference to passenger cars association of the country. So escalating conflict between US and China hits US electric cars producer.

In October Tesla sold just 211 cars at the largest auto market in the world.

In July Beijing raised tariffs for import cars from the US, which of course hurt Tesla’s sales.

While sales of new-energy vehicle in China keep growing, in general sales of cars fell significantly from the middle of this year and might show first yearly decline in almost three decades.

Last week Tesla announced price cuts for Model X and Model S in China to make them more affordable. The company also chose a place for first foreign factory in Shanghai to avoid high tariffs.