(Bloomberg) -- Tesla Inc.’s deliveries from its Shanghai plant rose in January despite the typically quieter Lunar New Year break, spurred by aggressive price cuts on the two models it makes in China.
The US electric vehicle maker shipped 66,051 China-built cars in January, according to preliminary data from China’s Passenger Car Association released Friday. That’s an 18% increase from December.
The PCA didn’t provide a breakdown of exports and deliveries within China.
Austin, Texas-based Tesla has twice cut prices on Model 3 and Model Y cars in China in recent months to boost sales. It also lowered prices across its lineup in the US and major European markets following several quarters of missed delivery targets.
More than half of the 1.31 million EVs that Tesla delivered globally in 2022 were made in China.
The Lunar New Year holiday in Asia’s biggest economy late last month impacted vehicle sales overall, with production lines halted as workers headed to hometowns and few dealerships remaining open. The scrapping of a national subsidy on EV purchases at the end of 2022 also encouraged customers to place orders in the fourth quarter.
Total sales of new-energy vehicles are expected to have fallen 45% in January from December to around 410,000 units, the PCA said.
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