The American electric vehicle manufacturer Tesla announced this Friday that its Sales in China increased by 8.8% in 2024, to a record of more than 657,000 units, a strong performance in a competitive market in a year in which its Annual global deliveries fell for the first time.
Thus, its shares halted the collapse of more than 6% recorded on Wall Street on Thursday, and rebounded 0.3% in pre-market operations.
In China, Tesla broke a sales record in 2024
Tesla sales in the world’s largest car market also They increased by 12.8% in December compared to the previous month, reaching the record figure of 83,000 unitsaccording to Tesla China.
In 2024, the firm delivered 36.7% of its cars to customers in China, its second largest market, according to sales figures.
However, Its global deliveries fell 1.1%, missing CEO Elon Musk’s earlier prediction of a slight rise, with China’s exports falling 24%. Reducing European subsidies, the United States’ shift toward low-priced hybrid vehicles and tougher global competition, especially from China’s BYD, were a drag on sales, Reuters reported.
In December, Tesla’s sales of electric vehicles made in China, including exports to Europe and other markets, fell 0.4% from a year earlier to 93,766 units, according to data released by the Chinese Passenger Car Association (CPCA). on Friday, marking the first annual decline in Tesla deliveries at its Shanghai plant.
Full-year sales of Chinese-made Model 3 and Model Y vehicles, including domestic sales and exports, fell 3.3%. China’s exports fell to about 260,000 last year, its worst performance since 2021, according to Reuters calculations based on figures from Tesla and CPCA.
The firm’s exports to Europe from its most productive factory were overshadowed by a subsidy investigation against electric cars made in China initiated by the European Commission, which imposed a 7.8% tariff on Tesla cars from China in October. from China.
The company’s sales record in China, while its deliveries worldwide fell, reflects the global EV landscape, as China is the only major market experiencing robust growth in the face of a slowdown or even a decline in other markets, said John Zeng, head of China market forecasting at consultancy GlobalData with headquarters in London.
Source: Ambito
