Sales of Tesla's China-made EVs fall 8.4% in July
BEIJING : Tesla's sales of China-made electric vehicles fell 8.4% in July from a year earlier, reversing a small increase in June, amid rising competition from rivals offering lower-priced new models.
Deliveries of Tesla's China-made Model 3 and Model Y vehicles, including exports to Europe and other markets, reached 67,886 cars last month, down 5.2% from June, data from the China Passenger Car Association showed today.
Top Chinese rival BYD, with its Ocean and Dynasty line-ups of EVs and plug-in hybrids, delivered almost flat global passenger car sales at 341,300 vehicles in July.
Tesla's July reading followed a 0.8% rise year-on-year in sales of its China-made EVs in June, which ended an eight-month losing streak, but fell short of stopping quarterly declines.
Elon Musk's EV company, grappling with weak demand and a backlash among some consumers against his political views, posted its biggest quarterly sales decline globally in over a decade in the second quarter.
Aiming for growth from robotaxis and humanoid robots, the company is also working on a new, cheaper car, but sources have told Reuters the vehicle, a stripped-down version of its best-selling Model Y, would be delayed by at least several months.
The Chinese auto market, the world's largest, is in the midst of a price war that has bruised automakers, suppliers and dealerships and prompted authorities to call for a truce.
Tesla is preparing to launch a six-seat, longer-wheelbase version of its Model Y in China.
A longer-range, rear-wheel drive Model 3 is also coming to the Chinese market.
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