{"id":6281,"date":"2023-11-02T17:12:04","date_gmt":"2023-11-02T17:12:04","guid":{"rendered":"https:\/\/www.news25.org\/?p=6281"},"modified":"2023-11-02T17:12:05","modified_gmt":"2023-11-02T17:12:05","slug":"october-sales-of-teslas-china-made-evs-decline-2-6-from-september","status":"publish","type":"post","link":"https:\/\/www.news25.org\/october-sales-of-teslas-china-made-evs-decline-2-6-from-september\/","title":{"rendered":"October sales of Tesla&#8217;s China-made EVs decline 2.6% from September"},"content":{"rendered":"\n<p><strong>U.S. automaker Tesla&nbsp;(TSLA.O)&nbsp;delivered 72,115 China-made electric vehicles in October, down 2.6% from a month earlier, the China Passenger Car Association (CPCA) said on Thursday.<\/strong><\/p>\n\n\n\n<p>Sales of China-made Model 3 and Model Y cars edged up 0.6% from a year earlier.<\/p>\n\n\n\n<p>Chinese rival BYD&nbsp;(002594.SZ), which makes EVs and hybrid models from its Dynasty and Ocean series, delivered 301,095 passenger vehicles in October, up 5% from September and a 38.4% increase from the same month last year.<\/p>\n\n\n\n<p>Advertisement \u00b7 Scroll to continueReport this ad<\/p>\n\n\n\n<p>Elon Musk&#8217;s Tesla has prioritised sales over earnings, particularly in China, where the U.S. EV giant has come under growing pressure from local rivals. Aggressive discounts have battered its margins but failed to boost its market share.<\/p>\n\n\n\n<p>Tesla&#8217;s market share in China&#8217;s EV segment&nbsp;shrank&nbsp;to 9.89% in the third quarter from 12.98% in the second quarter and 9.93% a year earlier.<\/p>\n\n\n\n<p>It&nbsp;missed&nbsp;third-quarter estimates for gross margin, profit and revenue. It also undershot third-quarter forecasts for its&nbsp;global deliveries, as planned factory upgrades for a revamped version of the Model 3 curbed production.<\/p>\n\n\n\n<p>Advertisement \u00b7 Scroll to continueReport this ad<\/p>\n\n\n\n<p>Tesla&nbsp;debuted&nbsp;the refreshed and higher-priced Model 3 in China in September and officially began deliveries on Oct. 26.<\/p>\n\n\n\n<p>Domestic automakers have made more headway in the world&#8217;s largest auto market, where foreign brands including Japan&#8217;s&nbsp;Mitsubishi Motors&nbsp;(7211.T)&nbsp;and South Korea&#8217;s&nbsp;Hyundai Motor&nbsp;(005380.KS)&nbsp;have taken steps to wind down or scale back on their operations.<\/p>\n\n\n\n<p>BYD, Tesla&#8217;s biggest Chinese rival, secured its market leadership with a 22.12% gross margin in the third quarter.<\/p>\n\n\n\n<p>Advertisement \u00b7 Scroll to continueReport this ad<\/p>\n\n\n\n<p>Huawei-backed EV brand Aito has also made a splash lately, with its revamped&nbsp;M7 model&nbsp;garnering more than 50,000 orders within the first 25 days after it went on sale in mid-September.<\/p>\n\n\n\n<p><strong>SOURCE: reuters.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. automaker Tesla&nbsp;(TSLA.O)&nbsp;delivered 72,115 China-made electric vehicles in October, down 2.6% from a month earlier, the China Passenger Car Association (CPCA) said on Thursday. Sales of China-made Model 3 and Model Y cars edged up 0.6% from a year earlier. Chinese rival BYD&nbsp;(002594.SZ), which makes EVs and hybrid models from its Dynasty and Ocean series, [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":6283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44,188,48],"tags":[9,155,669,12],"class_list":{"0":"post-6281","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-tech","9":"category-world","10":"tag-news","11":"tag-technology","12":"tag-tesla","13":"tag-world"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>October sales of Tesla&#039;s China-made EVs decline 2.6% from September - News 25<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.news25.org\/october-sales-of-teslas-china-made-evs-decline-2-6-from-september\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"October sales of Tesla&#039;s China-made EVs decline 2.6% from September - News 25\" \/>\n<meta property=\"og:description\" content=\"U.S. automaker Tesla&nbsp;(TSLA.O)&nbsp;delivered 72,115 China-made electric vehicles in October, down 2.6% from a month earlier, the China Passenger Car Association (CPCA) said on Thursday. 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