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Tesla's China-made EV sales drop 4.3% in Nov
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Tesla's China-made EV sales drop 4.3% in Nov
Dec 3, 2024 1:22 AM

BEIJING, Dec 3 (Reuters) - U.S. automaker Tesla's

's sales of China-made electric vehicles fell 4.3%

year-on-year to 78,856 in November, data from the China

Passenger Car Association (CPCA) showed on Tuesday.

Deliveries of China-made Model 3 and Model Y vehicles

recorded a 15.5% increase from the previous month.

Chinese rival BYD, with its Dynasty and Ocean

lineups of EVs and plug-in hybrids, hit yet another monthly

record high with passenger vehicle sales up 67.2% year-on-year

to 504,003 units last month.

Overseas shipments made up 6.1% of the total sales, per a

company filing.

Tesla has ramped up China incentives at the year end with a

time-limited 10,000 yuan ($1,375.89) discount on outstanding

loans for its best-selling Model Y, as it lost ground amid a

BYD-led cost-cutting competition.

The U.S. carmaker extended zero-interest financing of up to

five years for some Model 3 and Model Y cars in China by another

month to end-December, the fifth such extension since it rolled

out the scheme in July.

Tesla's share of the world's largest EV market shrank to 6%

in sales terms in October, nearly half the September level and

the lowest in a year, according to Reuters' calculations based

on CPCA numbers.

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