Friday, May 20, 2022

Electric car sales in China are surging, Tesla demand slowing

Tesla China’s demand appears to be slowing in comparison to other local carmakers. We reported about this Tesla China registration slowdown the other day. It is not clear yet if this will turn into a trend or if it was a one time event.

Meanwhile Electric vehicle sales in China surged in July as drivers started buying local auto brands in the world’s largest car market. Sales for Tesla plunged after the US group was swept up in a string of scandals in the country.

Wholesale deliveries of new energy vehicles — including battery-powered, plug-in hybrid and hydrogen fuel-cell cars — jumped 164 % year on year last month to 271,000 units, the China Association of Automobile Manufacturers (CAAM) said on Wednesday.

The latest rise meant that electric cars took up 10 % of total auto sales in China from January to July. Total wholesale auto deliveries in July fell 12 % year on year to 1.9m units, CAAM reported. But EV market leader Tesla sold only 8,621 cars in China last month, according to data from the China Passenger Car Association (CPCA) released on Tuesday.

That was a 69 % drop month on month and a 26 % fall year on year, marking the first annual decline since Tesla opened its Gigafactory in Shanghai in January 2020.

The slowdown for the company, whose Model 3 sedan was China’s best-selling electric car last year, suggested “pretty anaemic” demand, said Tu Le, founder of Sino Auto Insights, a Beijing-based consultancy. 

In July Tesla also exported 24,347 China-made cars to Europe. In recent months, Tesla has been hit by scandals and negative press in China ranging from customer accusations of quality problems to government concerns that the vehicles’ on-board cameras might threaten data privacy and national security.

See also  Tesla achieves new record for deliveries in Q1 of 2022
Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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