Tesla’s China-made EV sales volume falls 10.9% year-on-year in Sept By Reuters

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<span>© Reuters. FILE PHOTO: Tesla sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo</span><br />
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<p>BEIJING/SHANGHAI (Reuters) – U.S. automaker Tesla (NASDAQ:) sold 74,073 China-made electric vehicles (EVs) in September, a 10.9% decrease from a year earlier, showed data from the China Passenger Car Association (CPCA) on Sunday.</p>
<p>Sales of China-made Model 3 and Model Y cars were down 12.0% from a month earlier. </p>
<p>Chinese rival BYD (SZ:), with its Dynasty and Ocean series of EVs and petrol-electric hybrid models, saw passenger vehicle deliveries grow 42.8% to 286,903 last month, from 200,973 in September last year.</p>
<p>Tesla, along with its China challengers, is bracing for a revival in consumer sentiment, buoyed by deeper discounts and tax breaks for green vehicles amid signs of the economy stabilising.</p>
<p>The company missed market estimates for third-quarter global deliveries on Oct. 2 as planned upgrades at its factories to roll out a newer version of the Model 3 mass-market sedan forced production halts.</p>
<p>The U.S. automaker, which ships more China-made cars for exports at the beginning of each quarter while focusing on domestic deliveries at the end, almost doubled its China EV share from July to August. </p>
<p>It unveiled in September a restyled Model 3 with a starting price of 259,900 yuan in China, 12% higher than the previous, and would start delivering in the fourth quarter. </p>
<p>Its Chinese rival Xpeng (NYSE:) also launched a revamped G9 SUV to sell from 263,900 yuan, 15% lower than the previous. </p>
<p>Tesla, the largest exporter of China-made EVs, is also facing a probe by the European Commission into subsidies for battery-powered cars from China, along with <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Renault </span></span> (EPA:) and other Chinese automakers. </p>
<p>Tesla’s deliveries of China-made vehicles hit a record 247,217 in the second quarter. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/teslas-chinamade-ev-sales-volume-fall-109-yy-in-sept-3193088">Source link </a></p><p>The post <a href="https://forextraderhub.com/teslas-china-made-ev-sales-volume-falls-10-9-year-on-year-in-sept-by-reuters.html">Tesla’s China-made EV sales volume falls 10.9% year-on-year in Sept By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>