• About
  • Advertise
  • Contact
Monday, June 23, 2025
  • Login
No Result
View All Result
NEWSLETTER
The NY Journals
  • Home
  • Business
  • Technology
  • Entertainment
  • Sports
  • Lifestyle
  • Health
  • Politics
  • Trending
  • Home
  • Business
  • Technology
  • Entertainment
  • Sports
  • Lifestyle
  • Health
  • Politics
  • Trending
No Result
View All Result
The NY Journals
No Result
View All Result
Home Technology

Tesla’s China-made EV sales grows 3% year on year in August

by Sarkiya Ranen
in Technology
Tesla’s China-made EV sales grows 3% year on year in August
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


This comes even as the country’s sales force is downsizing as part of the US company’s global layoffs

SALES of US automaker Tesla’s China-made electric vehicles (EV) grew 3 per cent in August from a year earlier, data from the China Passenger Car Association (CPCA) showed on Monday (Sep 2).

Deliveries of its China-made Model 3 and Model Y vehicles rose 17 per cent from July.

Chinese rival BYD – with its Dynasty and Ocean series of EVs and plug-in hybrids – posted a 35.3 per cent year-on-year jump in passenger vehicle sales in August, to a fresh monthly high of 370,854 units.

Other local EV competitors such as Leapmotor and Li Auto also reported higher sales.

Tesla’s rising China numbers, including domestic sales and exports to Europe and elsewhere, came amid extended incentives for local buyers as well as breakthroughs in winning over government support.

An uptrend in Tesla’s China sales seems to be underway in the third quarter, even though its local sales force has undergone downsizing as part of the US EV giant’s global layoffs.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

In July, Tesla posted a 78 per cent year-on-year increase in deliveries in tier-three cities while its sales in the tier-two cities such as Hangzhou and Nanjing rose by 47 per cent, data and analysis by China Merchants Bank International (CMBI) showed.

“We project Tesla’s retail sales volume to hit 65,000 units in August aided by strong growth in smaller cities. Should such momentum continue in September, Tesla may post the highest quarterly sales volume in China in Q3 2024,” said Shi Ji, an analyst with CMBI in Hong Kong.

Since April, Tesla has offered a financing plan with a zero-interest loan of up to five years to attract buyers who tend to be more cautious with spending on big-ticket items in a sputtering economy.

The company has won endorsement from several local governments which have deemed Tesla cars eligible for official car purchases in recent weeks.

The country’s top car industry association said in April the data collection by Tesla vehicles in China was compliant, paving the way for Tesla cars to enter some government compounds that they used to be banned from. REUTERS



Source link

Tags: AugustChinamadeGrowsSalesTeslasYear
Sarkiya Ranen

Sarkiya Ranen

I am an editor for Ny Journals, focusing on business and entrepreneurship. I love uncovering emerging trends and crafting stories that inspire and inform readers about innovative ventures and industry insights.

Next Post
WATCH: Hersh Goldberg-Polin laid to rest in Jerusalem

WATCH: Hersh Goldberg-Polin laid to rest in Jerusalem

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Yangzijiang Shipbuilding bags US.6 billion worth of order wins in year to date

Yangzijiang Shipbuilding bags US$11.6 billion worth of order wins in year to date

8 months ago
Finland Says Time-out Needed In Talks With Turkey Over NATO Bid

Finland Says Time-out Needed In Talks With Turkey Over NATO Bid

2 years ago

Popular News

    Connect with us

    The NY Journals pride themselves on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

    Transcending the bounds of New York City to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

    NEWS

    • Business
    • Technology
    • Entertainment
    • Sports
    • Lifestyle
    • Health
    • Politics
    • Real Estate
    Instagram Youtube

    © 2025 The New York Journals. All Rights Reserved.

    • About Us
    • Advertise
    • Contact Us
    No Result
    View All Result
    • Home
    • Business
    • Technology
    • Entertainment
    • Sports
    • Lifestyle
    • Health
    • Politics
    • Trending

    Copyright © 2023 The Nyjournals

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In