Tesla's Sales in China Surge in August Despite Competition

Tesla China delivered 86,697 vehicles in August, up 17% from the previous month. To attract customers, the company repeatedly extended the deadline for its 0% financing plan. Tesla's year-to-date shipments in China have declined by 6%, with more than half of the units exported.

This marked a 17% increase from the previous month, making it the second-highest monthly sales for the brand this year, as reported by the China Passenger Car Association on Monday.

The sales surge comes amid fierce competition in China's electric vehicle market. Despite challenges, Tesla has maintained its momentum, with the US automaker extending its 0% financing plan several times. The financing offer, which was first introduced for Model 3 and Model Y buyers in April, was pushed from July 31 to August 30 and most recently extended until the end of September, according to TechNode.

Although Tesla's year-to-date shipments in China saw a 6% decline to 587,437 units from January to August compared to the previous year, more than half of these vehicles were destined for overseas markets, based on data from the CPCA. In contrast, Chinese automaker BYD experienced a 35.3% year-on-year increase, selling 370,854 all-electric and plug-in hybrid passenger vehicles during the same period.

Tesla China delivered 86,697 vehicles in August, marking a 17% growth from the previous month.
The company extended its 0% financing plan deadline multiple times to attract buyers.
Year-to-date shipments in China declined by 6% for Tesla, with over half of the units being exported.

Source: TECHNODE