Tesla car sales in China will fall by 11.5% as competition intensifies
The Tesla showroom, which displays logos and electric cars, including Model 3 and Model Y, will be seen in Chongkin, China on January 12, 2025.
Chen Sing | Getty Images
Sale of TeslaCars to China fell in January as competition with domestic rivals continued to heat up.
Tesla sold 63,238 electric vehicles in January, down 11.5% from the 71,447 cars sold the same month last year.
Tesla shares fell approximately 1.5% in pre-market trading.
China’s rival byd Meanwhile, last month it sold 296,446 purely electric and plug-in hybrid vehicles, up 47% year-on-year.
Other Chinese rivals, Tesla, including Changan Automobile and Xpeng, also experienced sales growth.
Tesla has sought to use price reductions as an incentive to keep China’s “buyer interests” in cars. Tesla at the end of last year Prices have been reduced Of the Model Y cars, we have extended our five-year loan plan, which is zero until the end of January.
Last month, the US giant also announced an improved version of the Model Y, one of China’s best-selling EV autos. This also comes with a 0% interest plan.
Tesla has not introduced any new models since it began releasing CyberTruck in late 2023. This starts at nearly $80,000. Investors are eager to reinvigorate sales, and are eager to make the company’s new mass market model.
Tesla says it will be able to launch new, affordable models in the first half of 2025.
Meanwhile, automakers are promoting the launch of driver assist systems that sell driver assist systems as “full self-driving” as rivals are also deploying similar functions in China this year.