January Sees a Significant Drop in Tesla's China Deliveries

In a surprising turn of events, Tesla Inc. experienced an 11.5% decrease in the sales of its electric vehicles manufactured in China this January, as reported by the China Passenger Car Association (CPCA). The numbers, which stand at 63,238 units, reflect a noticeable decline compared to the same period last year.

Meanwhile, Tesla's local competitor, BYD, showcased a remarkable performance with 296,446 vehicles delivered in the same month. This figure not only represents a 47.5% increase from January 2023 but also highlights the growing competition in the Chinese electric vehicle market. However, it's worth noting that BYD's sales saw a 41.8% decrease compared to the previous month.

Monthly Comparison Shows a Sharp Decline

Further analysis by the CPCA reveals that the deliveries of China-made Model 3 and Model Y units have plummeted by 32.6% month over month, indicating a challenging period for Tesla in the world's largest auto market.