• 21.07.2024

    TOP AUTO NEWS

    Auto news from China

    Tesla’s Domestic Car Sales Plummet 24% in China, BYD Leads Record-Breaking Sales

    Jul 7, 2024

    Tesla’s domestic car sales in June plummeted by 24% year-on-year, marking the fourth consecutive decline this year. The intense price competition in the Chinese market and slowing demand from consumers are believed to be the main reasons. According to preliminary data released by the China Passenger Car Association, last month, deliveries of domestically produced Model 3 and Model Y from Tesla’s Shanghai factory dropped to 71,007 units, a significant decrease both year-on-year and month-on-month.

    Tesla's Domestic Car Sales Plummet 24% in China, BYD Leads Record-Breaking Sales

    BYD led the way with a record-breaking sales of 340,211 vehicles, while NIO and Geely’s Jihua brand also achieved historic highs with monthly sales exceeding 20,000 units each. Ideal car delivered 47,774 vehicles, mainly driven by the strong demand for its recently launched extended-range electric five-seat L6 model. China, the world’s largest electric car market, is facing increasing competition as Tesla’s shipments in China decline, adding pressure to Elon Musk’s company globally.