The American manufacturer of electric vehicles sent last month, 68,280 Model 3 sedans and Model Y SUVs, down 5.3%. year on year and a sharp decline of 23%. compared to September, according to preliminary data published by the China Passenger Car Association, Bloomberg reported.
Fierce competition
October’s results in the company’s key Chinese market are a serious blow to Tesla and call into question the company’s forecasts of delivering a record number of electric vehicles this year.
Tesla’s sales decline in China is even more painful because other companies (BYD, Xpeng and Geely Automotive) reported record sales results last month.
This shows how fierce competition Tesla faces in China, especially from the domestic leader BYD, whose revenues exceeded Tesla’s revenues for the first time in the third quarter.
Supplies of Tesla factories in China are unexpectedly shrinking / Bloomberg
Forecast at risk
To meet its forecast of a slight increase in sales compared to last year in the last months of this year Tesla’s global sales will need to be at record levels. Estimates show that to improve last year’s sales result of 1.81 million cars, Tesla will have to deliver over half a million cars (at least 515,000 units) to customers around the world every month..
And how important a role the Chinese market plays in the implementation of Tesla’s annual plan is best demonstrated by the results achieved in the third record quarter, in which China accounted for more than half of Tesla’s deliveries worldwide.
The Chinese car market was rebounding
More broadly, China’s auto market, fueled by government subsidies, rebounded in October, with Chinese manufacturers benefiting most. Customers can count on PLN 20,000. yuan subsidies from a government program aimed at encouraging people to replace combustion engine cars or older electric vehicles.
Total vehicle deliveries in China they increased by 4.5%. up to 2.11 million pieces, while sales of electric vehicles and plug-in hybrids jumped by 50.9%. compared to the previous year to 1.12 million pieces. Vehicles electric and hybrid cars accounted for approximately 53.3 percent. total sales in October.
