Business

Tesla Faces a 6% Sales Drop in China Amid Rising Competition from BYD

Tesla's April Sales in China See a 6% Decline

According to preliminary data released by the China Passenger Car Association (CPCA) on Wednesday, Tesla, Inc. experienced a 6% decrease in sales within China last month, totaling 58,459 vehicles. This downturn reflects the performance of the locally produced Model 3 and Model Y, which also saw a significant drop of over 25% from March.

BYD Outshines with a 20% Sales Increase

In contrast, BYD, Tesla's main competitor in the Chinese market, reported a remarkable nearly 20% year-on-year growth, with deliveries reaching 372,615 units. This figure includes both pure electric and hybrid models, showcasing the fierce competition Tesla faces in China.