Tesla Reports Lowest Sales in China in Three Years Amid Strong Export Growth
Recent data released today shows a significant decline in domestic sales for Tesla in China during October, reaching the lowest levels in three years. This downturn reflects heightened competition and a decrease in domestic demand.
According to the China Passenger Car Association, Tesla sold only 26,006 vehicles in China last month, a sharp decline of 35.8% compared to October of the previous year. Sales also decreased from 71,525 vehicles delivered in September, which included the launch of the "Y L" model tailored for the Chinese market.
Conversely, Tesla's export figures showed a robust performance, with exports from China reaching 35,491 vehicles in October, the highest level in two years, according to the same association.
This stark contrast between domestic sales and export performance has affected Tesla's market share in China, one of the world's largest electric vehicle markets. In October, Tesla's market share fell to 3.2%, the lowest in over three years, down from 8.7% in September, underscoring the growing challenges posed by intense competition and diminished demand.
