Tesla’s Chinese-made EV sales fell 10.9% in September compared to the same month last year

BEIJING/SHANGHAI (Reuters) – U.S. automaker Tesla Inc.’s (TSLA.O) sales of Chinese electric vehicles (EVs) rose 10.9% year-on-year in September, according to data from the China Passenger Car Association (CPCA). The number decreased to 74,073 units. ) on sunday.

Sales of the Chinese-made Model 3 and Model Y decreased by 12.0% from the previous month.

Chinese rival BYD (002594.SZ) has the EV “Dynasty” and “Ocean” series, as well as gasoline-electric hybrid models, and passenger car deliveries rose to 200,000 last month and last September. Sales increased by 42.8% from 973 units to 286,903 units.

Tesla, along with its Chinese challengers, is bracing for a rebound in consumer confidence amid signs of economic stabilization, supported by wider discounts and tax breaks on green cars.

On October 2, the company was forced to suspend production due to plans to upgrade its factory to introduce a new version of its mass-market sedan, the Model 3, and global deliveries for the third quarter fell short of market expectations.

The US automaker ships many Chinese-made vehicles for export at the beginning of each quarter and focuses on domestic deliveries at the end, but its EV share in China nearly doubled from July to August. Became.

The company announced a redesigned Model 3 in September with a starting price of 259,900 yuan in China, 12% higher than the previous model, with deliveries scheduled to begin in the fourth quarter.

Chinese rival Xpeng (9868.HK) has also launched an improved SUV, the G9, with prices starting at 263,900 yuan, 15% cheaper than before.

Tesla, China’s top EV exporter, along with Renault and other Chinese automakers, is also facing a European Commission investigation into subsidies for Chinese battery-powered cars.

Tesla delivered a record 247,217 Chinese-made cars in the second quarter.

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