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Elon Musk’s Tesla Enjoys Strong Sales in China – but Market Share Continues to Erode

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Tesla’s car sales in China reached their highest point for 2024 in August, but the company is still losing market share to domestic rivals like BYD, according to a recent report.that Elon Musk’s Tesla has experienced a mixed bag of results in the Chinese market this year.

Data from the China Passenger Car Association suggests that Tesla’s Shanghai factory produced around 86,700 vehicles in August, with approximately 23,250 cars being exported and the remaining 63,500 sold domestically. Although this represents Tesla’s best month in China so far this year, it still marks a year-on-year drop of 1.9 percent, with flat domestic sales of 388,000 through the first eight months, according to calculations by Chinese EV publication CnEVPost.

 

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