On June, Tesla's delivery volume in China decreased by 24% year-on-year, and the global production volume for the second quarter will be announced shortly
China Passenger Car Association data shows that in June, Tesla's Model 3 and Model Y wholesale sales dropped to 71,007 units. This is a 2.2% decrease compared to May
According to the VESYNC APP, Tesla (TSLA.US) Shanghai factory's shipments decreased by 24.2% year-on-year, marking the fourth time this year that the company's output has declined due to price wars in the Chinese market. Data from the China Passenger Car Association shows that wholesale sales of Tesla Model 3 and Model Y in June dropped to 71,007 units, a 2.2% decrease from May.
The closely watched Tesla's global production and delivery data for the second quarter will be announced in the United States later on Tuesday. China is the world's largest electric vehicle market, and with the slowdown in electric vehicle sales, Tesla's production decline in China will further intensify the pressure on Musk's company globally.
Analysts predict that Tesla will deliver 439,302 electric vehicles in the second quarter, a 5.8% year-on-year decrease, marking the second consecutive quarter of decline.
Preliminary data from the China Passenger Car Association shows that with the gradual implementation of the trade-in subsidy announced in April, the sales of new energy vehicles in China last month are expected to increase by 28% compared to June 2023.
It is expected that the total shipment of new energy vehicles in June will reach 970,000 units, an 8% increase from the previous month.
BYD led the way with a record-breaking 340,211 units of passenger car sales. Li Auto delivered 47,774 vehicles, mainly driven by the strong growth of its recently launched extended-range electric five-seat L6 model.
NIO Inc. and ZEEKR under Geely also achieved historical highs, with monthly sales exceeding 20,000 units each.
In April this year, China announced a one-time subsidy of up to RMB 10,000 to consumers who trade in old vehicles and purchase new models that meet certain emission standards, with local municipal authorities also introducing additional incentive measures. The China Passenger Car Association stated that this has stimulated consumers' willingness to purchase new vehicles