When is it time to get into Tesla? Right now, according to Jim Cramer.
This came after reports that the clean energy carmaker had cut prices for its Model 3 sedan in China and could be ready to publish record third-quarter deliveries later this week.
Tesla's China website suggests that starting prices for its popular Model 3, which are now made in its Shanghai factory, have been reduced by 8% to around $36,800 each, while the longer-range version was reduced to around $40,000 each. The new models will also include cheaper lithium iron phosphate batteries, Reuters reported.
A report from the tech-focused Electrek news website yesterday also suggested Tesla's third-quarter deliveries could come in at a record high later this week, thanks in part to solid China sales which topped the 11,000 mark last month in the world's biggest car market.
Street forecasts suggest Tesla's third-quarter deliveries will rise to around 140,000 vehicles, compared to a 90,650 tally for the three months ending in June. That would still leave Tesla needing to shift 166,000 cars -- another record -- over the final three months of the year to meet its 2020 estimate of 500,000.