Tesla steals orders from Chinese competitors thanks to price reductions

Chinese buyers have reportedly begun canceling orders with Tesla competitors in direct response to Tesla cutting prices.

The report comes from Citi analyst Jeff Chung who commented on the impact Tesla's price cuts have on demand in China. He alleges that Tesla's competitors' "order backlog has suffered significant order cancellations."

There's no mention of specific brands, but it's generally agreed that Tesla's biggest rivals in China are Nio and Xpeng. Other makers, like Aito, have also begun dropping prices in China.

Tesla's Giga Shanghai factory output 71,704 cars in October, below September's 83,000.

The price cuts likely haven't affected the numbers significantly. We'll be on the lookout for numbers in November and December when the reported increased demand would show.

Source | Via