If Tesla was hoping that decent sales in China might boost the company's fast-diminishing profits, it was a forlorn hope. For the second month in a row, the automaker has experienced a year-over-year decrease in sales in China.

According to Reuters , Tesla's sales dropped by 4 percent in August compared to the same month in 2024. That's not quite as dire as July, when Tesla saw Chinese sales decrease by 8.4 percent. Much of Tesla's Shanghai factory's slack was taken up by exporting EVs to other markets.

Some of Tesla's stiffest competition in China has come from BYD , but the Chinese automaker has started to experience its own struggles at home, too. Yesterday, BYD reported a 30 percent drop in quarterly profits, in part due to the Chinese government telling automakers at the start of the summer that their price war was over.

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If Tesla was hoping that decent sales in China might boost the company's fast-diminishing profits, it was a forlorn hope. For the second month in a row, the automaker has experienced a year-over-year decrease in sales in China.

According to Reuters , Tesla's sales dropped by 4 percent in August compared to the same month in 2024. That's not quite as dire as July, when Tesla saw Chinese sales decrease by 8.4 percent. Much of Tesla's Shanghai factory's slack was taken up by exporting EVs to other markets.

Some of Tesla's stiffest competition in China has come from BYD , but the Chinese automaker has started to experience its own struggles at home, too. Yesterday, BYD reported a 30 percent drop in quarterly profits, in part due to the Chinese government telling automakers at the start of the summer that their price war was over.

Read full article

Comments

If Tesla was hoping that decent sales in China might boost the company's fast-diminishing profits, it was a forlorn hope. For the second month in a row, the automaker has experienced a year-over-year decrease in sales in China.

According to Reuters , Tesla's sales dropped by 4 percent in August compared to the same month in 2024. That's not quite as dire as July, when Tesla saw Chinese sales decrease by 8.4 percent. Much of Tesla's Shanghai factory's slack was taken up by exporting EVs to other markets.

Some of Tesla's stiffest competition in China has come from BYD , but the Chinese automaker has started to experience its own struggles at home, too. Yesterday, BYD reported a 30 percent drop in quarterly profits, in part due to the Chinese government telling automakers at the start of the summer that their price war was over.

Read full article

Comments