Stay up-to-date with PVP Live’s news roundup featuring the Tesla Model Y being the top-selling car in Iceland and Australia, and the company joining Chinese EV makers in a pledge to end price wars.

Top-selling car in Australia, Iceland

Tesla’s electric vehicles (EVs) are not mainstream, but in Iceland and Australia, one of its cars, the Tesla Model Y, is making waves. The car is now top-selling in those countries, beating mainstream vehicles.

The Tesla Model Y is breaking a 35-year-old record in Iceland. It is the best-selling car in the European nation within just the first six months of this year. The country is said to have been partial to Toyota cars over the previous few decades. Tesla is shaping things up in Iceland’s car market as it continues to gain massive support from the country’s people. 

Meanwhile, in Australia, the Tesla Model Y has beaten the Ford Ranger ute, earning the spot as the second-best-selling car in the Pacific nation. According to news outlets, Tesla sold around 5,560 Model Y cars during this year’s second quarter, coming in second place after the Toyota Hi-Lux ute. 

Stop price wars!

In such a phenomenal occurrence, Tesla has joined a band of EV automakers in China to pledge to regulate how they market their EVs and, subsequently, avoid price wars to help create a pleasant market landscape for consumers. 

Earlier today, at the 2023 China Auto Forum held in Shanghai, the China Association of Automobile Manufacturers (CAAM) facilitated a pledge signed by 16 significant automakers in the country, vowing to uphold fair market order in the industry. 

The automakers that signed the pledge are Tesla, China FAW, SAIC Motor, Dongfeng Motor, BAIC, Changan Automobile, China National Heavy Duty Truck, GAC, JAC, Chery, Geely, BYD, Great Wall Motor, Li Auto, NIO, and XPeng Motors. 

Price wars are rampant worldwide, but the EV price wars in China, particularly, are the loudest, especially after Tesla suddenly slashed the manufacturer’s suggested retail prices of its Model Y and Model 3 cars by around $7,000 each, sparking concerns. 

The next day after this move, Tesla showrooms in China were flooded with customers to protest. This is because Tesla had slowly been increasing the price of all its EV car units in China for the past two years, without discounts, then all of a sudden, slashed the prices of some of its car offerings this year. Specifically, customers who just bought a new Tesla car late last year were furious.

The pledge, however, is not legally binding.

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