Tesla’s China-Made EV Sales Rise in June for First Time in Nine Months, But Quarterly Decline Persists
TMTPOST -- Tesla’s sales of China-made electric vehicles posted a modest year-on-year increase in June, ending an eight-month losing streak, though quarterly figures remained in decline amid intensifying competition from lower-cost domestic rivals.
The U.S. automaker delivered 71,599 Model 3 and Model Y vehicles from its Shanghai factory last month, including both domestic sales and exports, according to data released Wednesday by the China Passenger Car Association. That marked a 16.1% increase from May and a slight 0.8% gain from a year earlier.
Despite the monthly uptick, Tesla continues to face pressure from a wave of new, aggressively priced Chinese models that have eroded its market share and weighed on quarterly performance.
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