On Tuesday, Reuters reported that data compiled by China Merchants Bank International (CMBI) revealed a significant increase in Tesla’s retail sales in China in January, following a price cut for its top-selling models. On average, daily sales for Tesla in China during the Jan. 9 to Jan. 15 period increased by 76% compared to the same period in 2022. A total of 12,654 vehicles were sold during that period, according to CMBI’s data. This is in contrast to a 14.5% decrease in overall retail auto sales in China during the same week. However, it should be noted that sales of electric and hybrid vehicles in China increased by 36.5%, as per the data.