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3w ago

Tesla’s China Sales Drop to Three-Year Low as Exports Reach Two-Year High

Weaker consumer demand after subsidy cuts is curbing Tesla’s China momentum.

FILE - In this Feb. 19, 2017 file photo, workers walk past Haval SUV models parked outside the Great Wall Motors assembly plant in Baoding in north China's Hebei province. (AP Photo/Andy Wong, File)
People walk past Tesla electric vehicles (EV) at the carmaker's delivery centre in Beijing, China January 8, 2025. REUTERS/Florence Lo/File Photo
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Overview

  • Official CPCA data show October retail deliveries at 26,006 vehicles, down 35.8% year over year and sharply lower than September’s 71,525.
  • Tesla’s share of China’s EV market slid to about 3.2% for the month, the lowest in more than three years, as domestic brands gained ground.
  • Exports from Giga Shanghai climbed to 35,491 vehicles in October, a two-year high, reflecting a greater allocation to overseas markets.
  • Year to date through October, Tesla recorded 458,710 retail sales in China (down 8.4% y/y) and 667,861 total units including exports (down 10.2%).
  • Competition intensified with Xiaomi reporting 48,654 October deliveries, while Tesla extended local incentives and Elon Musk said full FSD (Supervised) approval in China is expected around February–March 2026.