Tesla Reports Lowest Local Sales in China in Three Years Amid Rising Exports

Official data released today indicates a sharp decline in Tesla's local sales in China for October, reaching the lowest level in three years. This downturn suggests increasing competition and a weakening local demand for electric vehicles.

Data from the China Passenger Car Association reveals that Tesla sold only 26,006 vehicles in China last month, representing a significant drop of 35.8% compared to the same period last year. Month-over-month sales also fell sharply from 71,525 units delivered in September, which included the launch of the "Y L" model exclusively for the Chinese market.

In contrast, Tesla's export activities showed strong performance, diverging from the local trend. The association's data released today indicates that Tesla's exports from China reached a two-year high, with 35,491 vehicles shipped last month.

This contrasting performance between local sales and exports has directly impacted Tesla's market share in China, one of the world's largest electric vehicle markets. Tesla's share of the electric vehicle market in China fell to just 3.2% in October, the lowest level in over three years. This marks a significant decline from 8.7% in September, highlighting the growing challenges the company faces in an environment characterized by "intense competition" and "declining demand."