<div id="readability-page-1"><div><div><p><strong>Tesla Inc.</strong> <span>TSLA</span> has reportedly received over 120,000 orders for the Model Y L SUV in China since it was launched last month.</p><h2>Averaging 10,000 Orders Every Day</h2><p>The company is averaging nearly 10,000 orders for the Model Y L SUV per day, Chinese local media outlet Cailian reported on Wednesday, citing a Tesla sales personnel in China.</p><p>The Model Y L is a 6-seater version of the Model Y SUV, available in the Chinese market for over $47,184. The SUV offers over 467 miles of CLTC range via an 84 kWh battery, all-wheel drive and 19-inch wheels.</p><h2>Model 3 Price Cut, Chinese Sales Woes</h2><p>The news comes as the company also announced a price cut in the Model 3 sedan's long-range version. The company slashed the trim level's price by 3.7% to $36,391.</p><p>Meanwhile, Tesla has been struggling in the Chinese market, with the company registering a 27% YoY drop in insured registrations recently, as it registered 10.3k units in China during the week of August 18 to August 24.</p><p>Meanwhile, data released by Deutsche Bank showcases that Tesla could deliver over 54,000 units in August in China, which, while illustrating a 29% surge over July, still constitutes a 17% YoY decline.</p><h2>BYD's Annual Sales Cut, Xpeng Releases P7 Sedan</h2><p>Elsewhere, <strong>BYD Co. Ltd.</strong> <span>BYDDY</span> <span>BYDDF</span> has reportedly cut its annual sales target for 2025 by 16% to 4.6 million units as the Chinese EV giant reported a 30% drop in profits.</p><p>On the other hand, <strong>Xpeng Inc.</strong> <span>XPEV</span> has unveiled a new $30,000 Model 3 rival, the P7 sedan in the Chinese market. The company says it received over 10,000 orders for the vehicle in seven minutes.</p><p>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!</p><p><em>Check out more of Benzinga's Future Of Mobility coverage by</em><em> following this link.</em></p><ul> <li>Ross Gerber Questions The Purpose Of Tesla Optimus Robot With Dwindling EV Sales: ‘If They Won’t Buy His Cars…’</li> </ul><p><em>Photo courtesy: Ken Wolter / Shutterstock.com</em></p></div></div></div>

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<p>Tesla Inc. has received over 120,000 orders for the Model Y L SUV in China since its launch, averaging nearly 10,000 orders daily. The Model Y L, a 6-seater priced over $47,184, offers a range of 467 miles. Despite this success, Tesla faces challenges in the Chinese market, with a 27% YoY drop in insured registrations and a recent price cut for the Model 3. Competitors like BYD and Xpeng are also adjusting their strategies amid changing market dynamics.</p>

- Tesla Inc. has received over 120,000 orders for the Model Y L SUV in China since its launch last month, averaging nearly 10,000 orders daily.  
- The Model Y L, priced over $47,184, features a 467-mile range and all-wheel drive, while Tesla also announced a 3.7% price cut for the Model 3 sedan.  
- Despite the surge in Model Y L orders, Tesla faces challenges in the Chinese market, with a 27% year-over-year drop in insured registrations and a 17% decline in overall deliveries.  

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Tesla Model Y L Averaging Over 10,000 Daily Orders Since Launch, Received 120,000 Orders To Date: Report