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Tesla sold 32,968 China-made vehicles in July, local sales plunged m/m

Published 08/10/2021, 04:24 AM
Updated 08/10/2021, 05:50 AM
© Reuters. FILE PHOTO: A Tesla car pictured at a charging point in Beijing, China, April 13, 2018. REUTERS/Thomas Peter/File Photo

BEIJING (Reuters) -U.S. electric vehicle maker Tesla (NASDAQ:TSLA) Inc sold 32,968 China-made vehicles in July, including 24,347 for export, the China Passenger Car Association (CPCA) said on Tuesday.

Local sales of China-made vehicles plunged 69% to 8,621 cars from 28,138 in June. Tesla's sales in the first month of each quarter are usually lower than the following two months.

The company, which makes Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 33,155 China-made vehicles in June.

© Reuters. FILE PHOTO: A Tesla car pictured at a charging point in Beijing, China, April 13, 2018. REUTERS/Thomas Peter/File Photo

Last month, Tesla introduced a cheaper version of the Model Y in China, where it faces increased scrutiny from both regulators and the public and growing competition from local rivals. It also lowered the starting price for Model 3 sedans.

China's BYD sold 50,387 electric vehicles last month, while General Motors Co (NYSE:GM)'s China joint venture with SAIC Motor delivered 27,347 units. CPCA also said China sold 1.52 million passenger cars in July, down 6.4% from a year earlier.

Latest comments

You must be either malicious  or stupid !!! Please see the entire statistics over the year!!!
8621 what a joke
Looking at Telsa financials and sales are the sentimental enthuisiasts getting the big picture yet? I doubt it. Most likely that will be in the future when price drops many fold toward reality, as with the market as a whole.
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