Visitors check a Tesla Model 3 car next to a Model Y displayed at a showroom of the US electric vehicle maker in Beijing, China, on Feb 4, 2023.SAN FRANCISCO — Tesla Inc investors are waiting to see how much Elon Musk's price cuts will pay off: The electric vehicle maker is expected this weekend to report record sales as cheaper sticker prices, helped by US subsidies, spurred demand.
Tesla may have handed over 430,000 vehicles in the quarter ended March 31, according to analysts' estimates collected by Refinitiv. That would be up six per cent from the previous quarter, and up 39 per cent from a year earlier. Analysts expect Tesla to further lower prices as many automakers have matched the price cuts and concerns about a weakening economy persist.
In China, Tesla's retail sales totaled 106,915 units in the year to March 19, one of the best quarters on record, according to data from China Merchants Bank International. Tesla's price cuts in China ignited a price war, with Chinese rivals including BYD and Xpeng dropping prices.
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