Tesla sold 32,968 China-made vehicles in July, local sales plunged m/m
Reuters
Published Aug 10, 2021 04:24AM ET
Updated Aug 10, 2021 05:50AM ET
BEIJING (Reuters) -U.S. electric vehicle maker Tesla (NASDAQ:TSLA) Inc sold 32,968 China-made vehicles in July, including 24,347 for export, the China Passenger Car Association (CPCA) said on Tuesday.
Local sales of China-made vehicles plunged 69% to 8,621 cars from 28,138 in June. Tesla's sales in the first month of each quarter are usually lower than the following two months.
The company, which makes Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 33,155 China-made vehicles in June.
Last month, Tesla introduced a cheaper version of the Model Y in China, where it faces increased scrutiny from both regulators and the public and growing competition from local rivals. It also lowered the starting price for Model 3 sedans.
China's BYD sold 50,387 electric vehicles last month, while General Motors Co (NYSE:GM)'s China joint venture with SAIC Motor delivered 27,347 units. CPCA also said China sold 1.52 million passenger cars in July, down 6.4% from a year earlier.
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Written By: Reuters
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