Tesla’s China sales hit three-year low
Tesla sold just 26,000 vehicles in China last month, down 36% from the more than 40,000 it sold in October 2024 and the lowest it’s been since November 2022. China is Tesla’s second-biggest market after the US, where sales are expected to fall following the end of the $7,500 federal EV tax credit. Sales also fell in a number of countries in its third-biggest market, Europe, in October.
In China, Tesla faces increased competition from companies like BYD and XPeng, which is also getting into the robotaxi and robot markets. Notably, China also saw lower car sales overall in October amid weaker consumer sentiment.
Fortunately for Tesla, which is now focusing more on its robot, autonomous taxi, and AI goals, analysts are also placing less of an emphasis on its car business.
In China, Tesla faces increased competition from companies like BYD and XPeng, which is also getting into the robotaxi and robot markets. Notably, China also saw lower car sales overall in October amid weaker consumer sentiment.
Fortunately for Tesla, which is now focusing more on its robot, autonomous taxi, and AI goals, analysts are also placing less of an emphasis on its car business.
