Tesla to hit record quarterly sales in China even as market share shrinks - analysts

SHANGHAI : Tesla is set to hit another record quarter with its China sales while it faces mounting pressure from local competitors such as BYD eating into its share in the world's largest auto market, analysts say.

However, Tesla's share in China's battery electric car market would shrink in the quarter to 13.7 per cent from 16 per cent in the first three months, while BYD and Aion, the EV band of Guangzhou Automobile Group, gained share, Shi added. "Tesla has to sell into China's lower tiered cities to seek further growth, but its direct sales model would be too costly to expand its sales network into hundreds of such cities," said Yale Zhang, managing director at Shanghai-based consultancy Automotive Foresight.Tesla will announce global sales numbers over the weekend, while China sales will be available from association data in the first week of July.

While smaller EV players like Nio and Xpeng were struggling with China sales slumping in recent months, BYD bucked the trend and expanded its lead with its offerings of cars priced under 300,000 yuan .

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