Tesla Inc. (NASDAQ:TSLA) has officially launched the 6-seater version of the Model Y SUV in China, dubbed the Model Y L, amid poor sales performances for Elon Musk's EV giant.
A Refreshed Tesla Model Y With 6 Seats
The automaker released the new Model Y with 6 seats in the Chinese market for 339,000 RMB or $47,184, according to the automaker's official Chinese website on Tuesday.
The new Model Y offers over 467 miles of CLTC range and features an 82 kWh battery. The new Model Y also features an all-wheel drive setup and 19-inch wheels.
Tesla also offers its FSD, or Full Self-Driving capabilities, in the Model Y L for an additional 64,000 RMB or approximately $8,907, though the company doesn't call it the FSD system in the Chinese market.
Source: Tesla China
Tesla's Model 3+, UK Monthly Lease Discounts Amid Poor Sales
The new Model Y L follows plans by the company also to launch a Model 3+ sedan in the Chinese market, which will reportedly offer over 500 miles of range on a single charge.
Meanwhile, Tesla is also grappling with falling sales across multiple regions. Recently, the company reportedly began offering discounts on monthly lease payments in the UK amid a 60% drop in July sales for the company.
Norway Bucks Global Sales Decline, BYD Tops Global EV Sales
Despite the decline, Tesla's Norwegian sales have defied the global trend as the company recorded a 24% surge in units sold. Tesla registered 13,039 units in the country during the first half of the year.
On the other hand, rival BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) continues its strong performance as the company leads the global new energy vehicle (NEV) sales charts, capturing over 18.3% of the total global EV market share.
Tesla scores well on Momentum and Growth metrics, while offering satisfactory Quality, but poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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