SHANGHAI, May 24 (Reuters): Tesla has cut output of its best-selling Model Y electric car by a double-digit per centage number at its Shanghai plant since March, according to industry data and a source.
The move is aimed at addressing weakening demand for the US automaker's aged model in China, its second largest market into which a majority of the cars produced at the Shanghai plant are sold and where a brutal price war has erupted among electric vehicle makers amid an economic slowdown.
The Shanghai plant, Tesla's biggest manufacturing hub globally, planned to cut Model Y output by at least 20 per cent during the March to June period, said the person, who declined to be named as the matter is private.
Data from the China Association of Automobile Manufacturers (CAAM) showed the output of Model Y in China stood at 49,498 units in March and 36,610 in April, 17.7 per cent and 33 per cent lower, respectively, compared to a year ago.
Tesla slashes Model Y production in Shanghai
FE Team | Published: May 24, 2024 22:14:10
Tesla slashes Model Y production in Shanghai
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