The fight between China and the US has been going on for a long time in global trade. This fight is likely to become more heated after the election of Donald Trump as the President of the United States. Trump has already warned of various trade strictures, including increasing tariffs on China. Elon Musk, the owner of Tesla, a close ally of Trump, is warming up to the warmth of this relationship. Tesla's share price has risen since Trump took office, as have earnings. Now it is known that Tesla has sold 21 thousand 900 electric cars in China in the first week of this December.
Tesla's EV sales in China in the first week of December were the highest weekly sales in the fourth quarter, according to a Reuters report today.
Tesla's revenue in China fell last quarter. China's leading electric vehicle (EV) maker BYD overtook Tesla for the first time in the July-September quarter. BYD earns three billion dollars more than Tesla. But Tesla was ahead in car sales.
Tesla sold more than 73,000 vehicles in China in November, a monthly sales record for the year. Tesla has sold 556,000 EV Model Y vehicles as the best-selling passenger car in China this year.
Tesla has given special discounts on Model Y cars to stay competitive in China. In addition to this, Tesla wants to increase sales in the Chinese market by the end of the year with other benefits. Tesla's global sales are on the upswing despite a slowdown in some regions.
Tesla has given a discount of 10 thousand yuan or 1 thousand 375 dollars for the purchase of Model Y within the specified period. The company took this step as it fell behind Chinese company BYD in the competition at the end of this year.
Earlier in a BBC report, the Chinese government is subsidizing people to buy electric or hybrid cars instead of gasoline-powered cars. That is why the movement of such cars is increasing in China. According to research by the Swiss firm UBS, 60 percent of China's cars will be electric by 2030.
