According to Zhitong Finance APP, Tesla (TSLA.US) saw a slight year-on-year increase of 0.8% in the sales of its China-made electric vehicles in June, ending a continuous decline for eight months. However, facing the launch of low-cost new models by Chinese competitors, its quarterly sales continue to show a downward trend.
Data from the China Passenger Car Association on Wednesday showed that the delivery volume of Model 3 and Model Y vehicles produced at Tesla's Shanghai factory (including vehicles sold in China and exported to markets such as Europe) reached 71,599 units, a month-on-month increase of 16.1%.
In contrast, Tesla's largest competitor in China, BYD (01211), saw a year-on-year increase of 11% in global sales last month, reaching 377,628 units.
Earlier this year, Tesla achieved full-scale production of the refreshed Model Y at its largest manufacturing base in Shanghai in just six weeks, setting a historical record for the speed of model production. However, the company's sales in the Chinese and European markets have continued to cool, compounded by pressure from competitors and political controversies sparked by CEO Elon Musk, leading to sustained demand pressure.
In the second quarter of this year (April-June), Tesla's sales of China-made electric vehicles fell by 6.8% year-on-year, marking the third consecutive quarter of decline. In the first quarter of this year, China-made models accounted for 51.3% of its global delivery volume.
The American electric vehicle manufacturer is expected to announce another decline in global quarterly delivery data later on Wednesday. According to Counterpoint Research, Tesla's electric vehicle sales are expected to decline by 10% year-on-year in 2025, with global market share dropping to 13%, while BYD's global electric vehicle sales are expected to grow by 45%, reaching a record high and accounting for one-fifth of the global total.
Xiaomi's (01810) new SUV model YU7 has a starting price of 253,500 yuan (approximately $35,396), nearly 4% lower than the best-selling SUV Model Y in China in May, with initial orders being exceptionally strong. Since launching its first electric vehicle, the SU7 sedan, which transitioned from smartphones to car manufacturing, the monthly sales have consistently exceeded those of the Tesla Model 3 since December last year.
Although some analysts speculate that Tesla may further reduce prices to respond to competition from the YU7, it has not taken action. Instead, Tesla raised the price of the Model 3 Long Range version in China by 3.6% on Tuesday, while also increasing the range by 40 kilometers to 753 kilometers (468 miles)

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Tesla's June sales of domestically manufactured electric vehicles in China increased slightly by 0.8% year-on-year, ending a continuous decline for eight months, but quarterly sales continued to drop. The delivery volume of Model 3 and Model Y from Tesla's Shanghai factory reached 71,599 units, a month-on-month increase of 16.1%. However, facing low-cost models from competitors like BYD, Tesla's demand in the Chinese market remains under pressure, with second-quarter sales down 6.8% year-on-year. It is expected that Tesla's global quarterly delivery figures will decline again

- Tesla's electric vehicle sales in China increased by 0.8% year-on-year in June, ending an eight-month decline, but quarterly sales continue to drop due to competition from lower-cost models.  
- The China Passenger Car Association reported that Tesla delivered 71,599 Model 3 and Model Y vehicles, a 16.1% increase from the previous month, while rival BYD's sales grew by 11% to 377,628 units.  
- Despite a record production speed for the new Model Y, Tesla's sales in China and Europe remain under pressure, with a projected 10% decline in global sales for 2025, while BYD's sales are expected to rise by 45%.

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Tesla's electric vehicle sales in China end eight consecutive months of decline, but the quarterly downturn has not yet stopped