Tesla has been losing market share to Chinese new-energy-vehicle players, down from 7.8% in 2023 to 6% in the January to November period last year. 'I'd be hard pressed to declare Tesla a winner in China,' said Bill Russo, Shanghai-based founder and CEO of Automobility,'they are struggling to keep pace and have a limited and aging product portfolio.
' The trade barriers would force Chinese automakers to find buyers at home and in the'smaller, friendlier' foreign markets, adding pressure on Tesla's China as well as global sales, Sam Fiorani, vice president of AutoForecast Solutions said.Tesla models Y and 3 are displayed at a Tesla dealership in Corte Madera, California, on Dec. 20, 2024. Electric vehicle-maker Tesla's sales in China climbed to a record high last year. Sustaining that performance in 2025 could prove tricky as competition with homegrown players intensifies, analysts said.The U.S. electric vehicle maker saw annual sales in China jump 8.8% to a record high of more than 657,000 cars in 2024. In December alone, its sales rose 12.8% from the previous month to 83,000 units, according to Tesla China.However, Tesla has been losing market share to Chinese new-energy-vehicle players, down from 7.8% in 2023 to 6% in the January to November period last year, according to Bill Russo, founder and CEO of Automobility, who believes Tesla is'struggling to keep pace and has a limited and aging product portfolio.' Brand resiliency and price cuts have supported Tesla's sales so far, said Tu Le, founder and managing director of Sino Auto Insights, but he was less certain that Tesla could keep up its momentum in 2025, given the lack of new products and increased local competition, especially from Chinese companie