Tesla's China Sales at Three-Year Low

Tesla's Sales Decline in October

Tesla sold only 26,006 vehicles in China in October, marking the lowest level in three years. This situation arose from weak demand in the competitive Chinese market. Sales decreased by 35.8% compared to the previous year, and there was a notable decline from the 71,525 vehicle sales in September. In September, Tesla had begun deliveries of the long-wheelbase version of Model Y, which is the best-selling SUV model in China.

However, despite the decrease in domestic sales, Tesla's vehicle exports from China reached a record high, totaling 35,491 units, the highest figure in two years. These data were released on Monday by the China Passenger Car Association.

Tesla's market share in the Chinese electric vehicle market fell to 3.2% in October, down significantly from 8.7% in September, representing the lowest point in three years.

Meanwhile, Xiaomi showed strong performance with its SU7 sedan and YU SUV models, reaching a record sales figure of 48,654 units in October. However, incidents involving Xiaomi's sedans raised concerns about electric vehicle safety.

On the other hand, overall vehicle sales in China declined in October as expected, influenced by weakened consumer sentiment due to reduced government subsidies and tax cuts.