Tesla's China-Made EV Sales Drop in November Despite Monthly Growth

Tesla's China-Made EV Sales Drop in November Despite Monthly Growth

Tesla's China-made electric vehicle sales fell by 4.3% year-on-year in November, totaling 78,856 units, according to CPCA data. However, deliveries of the Model 3 and Model Y saw a 15.5% increase from October. Meanwhile, rival BYD achieved record-breaking sales, up 67.2% year-on-year, selling 504,003 vehicles.

Facing stiff competition, Tesla introduced a 10,000 yuan discount and extended its zero-interest financing scheme until December. Despite these efforts, Tesla's market share in China dropped to 6% in October, marking its lowest point in a year.

By Mr. Ram | CryptoEarningsHQ