Local competitors are rising strongly, Tesla's sales in China fell by 6% year-on-year in April
Tesla's sales in the Chinese market fell by 6% year-on-year in April, selling 58,459 units of Model 3 and Model Y, a decrease of 25.8% month-on-month. This marks the seventh consecutive month of declining sales for Tesla, with its market share being strongly impacted by local competitors. In contrast, BYD's sales grew by 19.4% year-on-year, and Nio and XPeng also performed well. Tesla is also facing challenges in the European market, with sales in the UK and Germany dropping by 62% and 46%, respectively
According to data from the China Passenger Car Association, Tesla (TSLA.US) saw a 6% year-on-year decline in electric vehicle sales in China in April, as ongoing fierce market competition continues to erode the American automaker's market share in the Chinese electric vehicle market.
The Texas-based automaker sold a total of 58,459 China-made Model 3 and Model Y vehicles that month, a sharp 25.8% decrease from the 78,828 deliveries in March.
Tesla's electric vehicle deliveries in China have now shown a year-on-year decline for seven consecutive months. Its market performance is significantly lagging behind major Chinese competitors. Last month, BYD (01211) saw a year-on-year surge of 19.4% in passenger car sales, reaching 372,615 vehicles.
Other domestic electric vehicle manufacturers also performed well. Nio (NIO.US) delivered 23,900 vehicles in April, a year-on-year increase of 53%; XPeng (XPEV.US) achieved a historical second-highest monthly performance with 35,045 deliveries.
Elsewhere, despite an overall rise in electric vehicle demand in the European market, Tesla's sales in the UK and Germany faced a setback, both dropping to their lowest levels in over two years. The company's car sales in the UK and Germany fell by 62% and 46% respectively in April, continuing its downward trend across the entire European market.
As of the time of publication on Wednesday before the US stock market opened, Tesla was up over 1%
