HomeIndustriesChina's Car Sales Fall in June, Diluting Tesla's Market Share

China’s Car Sales Fall in June, Diluting Tesla’s Market Share

China experienced a 2.9% drop in car sales in June compared to the previous year, data from the China Passenger Car Association (CPCA) revealed on Monday. 1.91 million vehicles were sold last month. Despite this drop, car sales for the first half of 2023 rose by 2.5% to 9.65 million units.

In contrast to the general trend, new energy vehicle (NEV) sales surged by over 25% in June, accounting for 35% of total car sales for the month. Over the first six months of the year, NEV sales grew by 37% to 3.09 million units. Although overall sales in June fell, China’s car exports for the month skyrocketed by 56%.

Both Tesla and rival EV maker BYD reached record deliveries for their China-made vehicles in the second quarter. Still, Tesla’s market share for pure electric and plug-in hybrid cars in China slipped during the second quarter from 10.5% in Q1 to 8.8%.

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