
Tesla sold 58,459 China-made electric vehicles in April, down 6% from a year earlier, according to data from the China Passenger Car Association (CPCA). Deliveries of its Shanghai-produced Model 3 and Model Y also fell 25.8% compared to March.
The decline comes as competition in China’s EV market intensifies. BYD, Tesla’s biggest rival in the region, reported a 19.4% year-on-year sales increase in April, selling 372,615 passenger vehicles, including both EVs and plug-in hybrids.
Compare Top Forex brokers and start trading and investing with a trusted partner
Tesla’s slowdown reflects broader challenges, including weakening demand and fierce price competition. While the company has cut prices in China multiple times over the past year, rivals like BYD continue to gain market share with more affordable and varied offerings.
The April figures suggest Tesla may need new strategies, such as refreshed models or additional incentives, to boost sales in the world’s largest auto market.
Subscribe for our newsletter
Get Forex brokers reviews, market insights, expert analytics and education material right into your inbox for free!