04:10 AM EST, 12/11/2024 (MT Newswires) -- Tesla (TSLA) sold 21,900 electric vehicles in China during the first week of December, marking the highest weekly sales so far in Q4 2024, Reuters reported late Tuesday, citing Tesla China.

The report said that the Model Y has been the top-selling passenger vehicle in China for the past year, with total sales reaching 556,000 units.

To maintain its competitive edge amid cost-cutting by BYD, Tesla has introduced a limited-time 10,000 yuan ($1,375.89) discount on outstanding loans for the Model Y, the report added.

Tesla did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)