Tesla’s China-made EV sales up 19.2% Y-o-Y in Sep. ’24

Sales of Tesla’s China-made electric vehicles (EVs) increased 19.2 per cent in September 2024 compared to the same month last year, according to data released on Wednesday by the China Passenger Car Association (CPCA).

However, despite the increase, Tesla’s deliveries of China-made Model 3 and Model Y vehicles only reported a modest 1.9 per cent rise from August. The company has already announced its global quarterly delivery figures but has not yet disclosed specific details for China sales.

Chinese rival BYD, offering a range of EVs and plug-in hybrids under the Dynasty and Ocean brands, recorded a significantly stronger performance in September.

BYD achieved its best month ever with a massive 45.56 per cent year-on-year increase in passenger vehicle sales, reaching a total of 417,603 units.

This strong performance by BYD has put Tesla’s position in the Chinese market under pressure. While Tesla experienced 12 per cent growth in China-made EV sales between July and September, this marks the company’s first quarterly increase in 2024.

Attribution: Reuters

Subediting: Y.Yasser