© Reuters. Tesla (TSLA) China deliveries increased 912% in January; Lower prices in South Korea
by Michael Elkins
The German automobile authority, KBA, reported on Friday that the number of new Tesla (NASDAQ:) vehicles registered in Germany increased in January by 912.2% from last year’s figures to 4,241. Tesla models now account for 2.4% of all new registrations.
The January 2023 figure is the biggest year-on-year jump on record among automakers selling in Germany that month, up from just 419 in the same month last year, according to KBA.
Tesla cut its prices in Germany in mid-January by between 1% and nearly 17% on the Model 3 and Model Y and pushed back delivery times by around a month. However, the impact of these price cuts is likely to only be seen in registration numbers later in the quarter, given delivery times of one to three months.
According to a Reuters report, a Tesla sales official said on Friday that the electric vehicle giant has cut prices on some of its car models in South Korea. This would be the second month in a row that Tesla has lowered prices.
The price of the basic rear-wheel drive Model 3 vehicle was listed at 59.9 million won ($48,728.50) on the company’s website on Friday, down more than 5 percent from the previous month. Its Model Y Performance sport utility vehicle was 82.69 million won, nearly 13% less than the January listing price of 94.73 million won.
The Tesla official confirmed the new prices for the models.
Reuters reported on Wednesday that Tesla plans to ramp up production at its Shanghai plant over the next two months to meet demand sparked by aggressive price cuts on its best-selling models.
Shares of TSLA rose 1.06% in premarket trading on Friday.
