Intensified competition in China, Tesla China's August sales fell year-on-year
Tesla's electric vehicle sales in China fell 4% year-on-year in August, with wholesale sales of 83,192 units, a month-on-month increase of 22.6%. The launch of lower-priced models by competitors has intensified market competition. Meanwhile, Tesla's performance in the European market has been weak, with July sales down 40% year-on-year, marking a decline for seven consecutive months. Sales in France, Sweden, and Denmark also saw significant decreases
According to the data from the Passenger Car Association, Tesla (TSLA.US) had a wholesale sales volume of 83,192 vehicles in China in August, a month-on-month increase of 22.6%; however, it represents a year-on-year decline of 4%, attributed to competitors launching lower-priced models, intensifying market competition. Meanwhile, the wholesale sales volume of new energy passenger vehicles in China reached 1.3 million units in August, a year-on-year increase of 24% and a month-on-month increase of 10%.
At the same time, Tesla's performance in the entire European market has been weak this year. Data from the European Automobile Manufacturers Association (ACEA) shows that despite an overall upward trend in electric vehicle sales in Europe, Tesla's sales in July fell by 40% year-on-year, totaling only 8,837 vehicles, marking the seventh consecutive month of decline. Currently, Tesla's sales in some European markets in August are also weak, with the downward trend continuing into the eighth month.
Data released on Monday from France shows that the number of newly registered Tesla vehicles in August decreased by 47.3% compared to the same period in 2024, while the overall automotive market in France grew by nearly 2.2% during the same period.
In Sweden, the registration of Tesla vehicles fell by more than 84% (while electric vehicle sales in Sweden remained flat, the overall automotive market grew by 6%); in Denmark, this figure decreased by 42%.
Tesla's largest markets in Europe are Germany and the UK, both of which have also seen a decline in sales this year, but sales data for August has not yet been released
