South Korean media: Tesla's sales in China increased by 9.9% in November!
On December 29, South Korean media "JoongAng Ilbo" published an article stating that last month, Tesla's electric vehicle sales in China increased by nearly 10% year-on-year.
Data from the China Passenger Car Association shows that Tesla sold 86,700 electric vehicles in China in November, an increase of 9.9% year-on-year, setting the second-highest monthly sales this year.
Tesla is currently facing increasingly fierce competition in this key market. In 2023, Tesla's electric vehicle sales in China only showed growth for three months. As of November, cumulative deliveries have declined by 8%.
The growth last month was mainly attributed to the strong sales of the long-range rear-wheel drive Model Y, which was launched in the Chinese market last month. Earlier this year, Tesla introduced the long-range Model 3 sedan and the six-seat Model Y in the Chinese market, further expanding its product line.
Additionally, it is widely believed that the surge in demand is due to the expiration of China's electric vehicle tax credit policy at the end of this month. Chinese electric vehicle manufacturers have also launched various promotional measures in an attempt to increase orders before the end of the year.
Therefore, the sales performance of several car manufacturers in China was strong last month. According to data from the China Passenger Car Association, at least seven new energy vehicle companies set sales records, while another six companies reached or approached their historical peak sales.
Tesla is struggling in the Chinese market, facing increasingly fierce competition from emerging companies such as Xiaomi and industry leader BYD. Some Chinese companies are also expanding into the European market, eroding Tesla's market share.
Tesla's sales in major markets are expected to continue to decline this year, leading to a decrease in annual sales. Wall Street predicts that Tesla's sales this year will reach 1.66 million units, with 1.78 million units in 2024 and 1.8 million units in 2023. Wall Street also predicts that Tesla's sales in the fourth quarter will be 450,000 units, a 9% decrease year-on-year.
At the same time, Tesla's biggest competitor in China, BYD, saw a 5% decline in sales in November, marking the third consecutive month of declining sales for the company.
Original: toutiao.com/article/1852807880092748/
Statement: This article represents the views of the author.