Tesla Inc. has experienced a decline in sales in the Chinese domestic market, despite a surge in exports for the Model Y and Model 3. The sales figures for July show a significant drop in demand for these models.
Model Y Sales Decline
- Sales of the Model Y fell by 15.24% year-over-year (YoY) in July, with 30,766 units sold in China.
- The sales figures are down 31.4% from June, indicating a sharp decline in demand.
- However, exports of the Model Y have grown by 195.18% YoY, with 15,072 units exported.
Cumulative Sales for Model Y
- The cumulative sales for the Model Y from January to July have fallen by 17.15% YoY, with over 202,257 units sold.
- Despite the decline in domestic sales, the growth in exports has helped to offset the drop in demand.
Model 3 Sales Decline
- Tesla sold over 9,851 units of the Model 3 in July, a 40.79% slip compared to the preceding month.
- However, the year-to-date (YTD) sales for the Model 3 in July were up 26.54%, with over 101,770 units sold in China.
Global Sales Decline
Tesla has experienced double-digit sales declines in multiple markets, including:
- Sweden
- Denmark
- France
- UK, where sales plummeted by 60% in July
- California, where sales fell by 21%
The decline in sales is a significant concern for Tesla, as it reflects a global trend of slowing demand for electric vehicles. Despite the challenges, Tesla remains a major player in the EV market, with the Model 3 and Model Y being among the best-selling electric vehicles.