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Tesla's China Sales Hit New High in September with 19.2% Growth

KGS

October 18, 2024

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Tesla's China Sales Hit New High in September with 19.2% Growth

Tesla's sales of China-produced electric vehicles (EVs) saw a significant 19.2% increase in September 2024 compared to the same month last year, according to the latest data from the China Passenger Car Association (CPCA). This growth reflects the continuing success of Tesla's Model 3 and Model Y, which are manufactured in China and also exported to markets like Europe.

In September, Tesla delivered over 72,000 EVs to the domestic Chinese market, marking a 66% year-on-year increase—its highest monthly sales figure for 2024. Compared to August, sales rose by 1.9%, signaling consistent month-on-month growth.

While Tesla has shown impressive gains, Chinese automaker BYD outpaced its U.S. rival with a record-breaking 45.56% increase in sales year-on-year, moving 417,603 passenger vehicles in September. Of these, 33,012 units, or 7.9%, were sold internationally.

Tesla’s overall sales for China-made EVs also grew 12% in the third quarter (July-September), marking its first quarterly rise this year. To maintain momentum in China, the world’s largest auto market, Tesla has been offering incentives, including extending zero-interest financing on select Model 3 and Model Y vehicles through October.

Looking ahead, Tesla is set to produce a six-seat variant of the aging Model Y in China by late 2025, according to reports. Additionally, the company plans to launch its highly anticipated robotaxi and roll out its Full Self-Driving (FSD) software in China and Europe in 2025, pending regulatory approval.

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