Tesla Reports Lowest Local Sales in China in Three Years Despite Surge in Exports

Official data released today shows a substantial decline in Tesla's local sales in China for October, reaching their lowest point in three years. This downturn highlights increasing competition and a drop in local demand.

Data from the China Passenger Car Association revealed that the company sold only 26,006 vehicles in China last month, a sharp decline of 35.8% compared to the same period last year. Additionally, monthly sales fell significantly from 71,525 vehicles delivered in September, the month when the "Y L" model specifically for the Chinese market was launched.

Conversely, Tesla's export activities showed strong performance, diverging from local trends. The association's data indicated that Tesla's exports of vehicles manufactured in China surged to their highest level in two years, totaling 35,491 vehicles in October.

This disparity between local sales and exports directly impacted Tesla's market share in China, one of the largest electric vehicle markets globally. Tesla's share in the Chinese electric vehicle market fell to 3.2% in October, the lowest in over three years, down from 8.7% in September, underscoring the growing challenges the company faces in a highly competitive environment marked by weakening demand.