Model 3

Data released Monday showed that sales of the Tesla Model 3 minivan in China fell as much as 64 percent in April, despite the electric car industry's recovery.

A total of 192,380 new energy vehicles were sold globally in March, down 15 percent year-on-year and accounting for about 2.5 percent of the global automotive market, data released by market research firm EV Sales showed.

Tesla owners may not realize that from the moment they choose a Tesla, it's inevitable and buying a Tesla is like buying a stock that goes up or down you can't predict.

On May 1, Tesla's China-made Model 3 standard range upgrade reduced the price, before subsidizing the starting price from 323,800 yuan to 291,800 yuan, minus the new energy passenger car subsidy consumers face the price from 303,550 yuan to 271,550 yuan.

Following the release of its first quarter 2020 earnings report today, Tesla said that 2020 was the first time in its history that Tesla achieved a positive GAAP net profit in a routinely weak first quarter.

Tesla announced on April 30 that it would reduce the price of the standard range the China-made Model 3 to be able to continue to receive government subsidies.

Tesla is considering cutting prices of some of its cars in China for a second time this year so they will continue to qualify for government rebates on electric vehicles that are being tightened, Bloomberg reported on Wednesday citing people familiar with the matter.

Tesla's China-made long-range Model 3 is scheduled to be released this week, according to Bloomberg.

The number of Tesla's new car registrations in China in February fell by 35% to 2,314, most of which were Chinese-made Model 3, according to data from China Automotive Information Net.

Tesla was required to make corrections immediately to ensure production consistency and product quality and safety overs issues concerning "chip downgrade" on China-made Model 3s.