Tesla sees worst sales performance in China in years
12 days ago
- #Tesla
- #EV Sales
- #China Market
- Tesla's sales in China dropped 36% year-over-year in October, marking its worst performance in years.
- China, the world's largest and most competitive EV market, saw Tesla deliver just over 26,000 EVs in October, down from 40,000 the previous year.
- Year-to-date, Tesla's sales in China are down more than 40,000 units compared to last year.
- Wholesale numbers, including exports, are also down 10% year-over-year.
- Tesla needs record sales in November and December to avoid its first full-year sales decline in China.
- Despite surging EV sales in China overall, Tesla is not benefiting from the growth.
- Competition in China is intense, and Tesla appears to have hit a plateau.
- Planned cheaper versions of Model 3 and Model Y are lagging, adding to concerns.