Sales Decline for Tesla in China

In January, Tesla Inc. experienced a notable decrease in the sales of its electric vehicles manufactured in China, with a total of 63,238 units sold. This figure represents an 11.5% drop compared to the same month in the previous year, as per the preliminary report from the China Passenger Car Association (CPCA) released this Friday.

BYD's Remarkable Growth

Contrastingly, Tesla's Chinese competitor, BYD, reported a significant increase in vehicle deliveries for the same period. BYD delivered 296,446 vehicles in January, showcasing a 47.5% surge compared to January 2023. However, this figure also indicates a 41.8% decrease from the previous month.

Monthly Comparison

On a month-to-month basis, the deliveries of China-made Tesla Model 3 and Model Y units saw a more pronounced decline of 32.6%, according to the agency.