Tesla maintains its position in China despite the decline in its global sales

This article was automatically translated from HIBAPRESS, the Arabic version:

Hibapress

Electric car maker Tesla recorded an 8.8% increase in sales in China, reaching a record level of more than 657,000 vehicles.

In December, Tesla sales in the Middle Kingdom climbed 12.8% compared to the previous month, reaching 83,000 units.

The Chinese market now represents 36.7% of Tesla’s global deliveries, confirming its status as the second most important market for the American brand.

Globally, Tesla sales fell by 1.1% in 2024, a first in years.

This decline is explained in particular by the reduction of subsidies in Europe, the growing appeal of less expensive hybrid vehicles on the American market and increased competition, particularly from the Chinese company BYD.

With 1.79 million vehicles sold worldwide in 2024, Tesla maintains a slight lead over BYD, which sold 1.76 million electric vehicles (+12.1%).

Faced with this competitive pressure, Tesla is continuing its policy of promotional offers in China, notably offering a reduction of 10,000 yuan ($1,366) on current credits for its Model Y.

For its part, BYD exceeded its objectives in 2024 with total sales of more than 4.25 million vehicles sold on the Chinese market (+41%), including plug-in hybrids and electrics.

BYD’s exports increased by 71.9% to 417,204 units, but remain below its target of 450,000 vehicles due in particular to European customs tariffs.