Tesla stock rises on increase in China-made deliveries (Video)

speaking of travel let's check in on some of the EV makers Tesla shares reading hired today after data from the Chinese passenger car Association showed that Tesla sold over 84 000 EVS throughout China in August that marks a 9.3 percent increase from a year ago sales of Tesla's China made model 3 and model y cars Rose over 30 percent from a month earlier so you know this is good news for Tesla especially considering how much competition is in China That's leading to the pricing Wars that we're seeing across the sector last week we saw Tesla once again cut their prices for its Model S and model X in both the US and China we'll see how that impacts demand and margins moving forward but so far it seems to be so good yeah and I think the sentiment here at least more broadly speaking from the street has been that they're willing to sacrifice some of the pressure that we're seeing on margins at least in the short term in order to kind of gain that sale picture expand the market base and really I guess in this instance defend their market share because we know that's such a critical issue here for Tesla not only in China but also obviously what's going on here in the US but when you take a look at these sales numbers across the board that we've seen over the last couple of days Lee Auto a huge competitor to Tesla the domestic competitor there in China they delivered nearly 35 000 cars in August up 663 percent from a year ago so that massive jump just really speaks to the fact that Tesla under even more pressure from some of these domestic players and as they continue to increase their deliveries as we've seen over the last several months obviously Tesla needs to do something in order to boost future sales and they turn to price cut so we'll see whether or not anymore are on top because I think they've already changed the price of some of their models six or seven times seven times the start of the year in China and in the U.S too