Tesla
China-made Tesla EV sales declines 17.8% in November, BYD grows
The China-made Tesla electric vehicle (EV) sales reached a new low in November and declined by 17.8% year on year.
Data from the China Passenger Car Association (CPCA) reveals that the US automaker accounted for about 82,432 units in the past month.
These sales figures are the lowest since December 2022, when the China-made Tesla EVs declined about 21% YoY in the face of growing reduced production, price cuts, and weakening demand.
Amid this new sales data, the Model 3 and Model Y China-made EVs performed robustly in November as compared to October.
On the other hand, Tesla’s Chinese rival BYD is catching new orders for its Dynasty and Ocean series of EVs and petrol-electric hybrid vehicles. In terms of growth, BYD recorded a 31% increase in orders as compared the last year.
Over the past month, Tesla has increased the prices of its long-range Model 3 and Model Y in the country. However, the weaker demand suggests that the customers are now looking for more affordable EVs.
A report reveals that Tesla may have an affordable EV launch to launch later next year. But there’s no launch date announced at the moment.