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Tesla achieves record sales in China in 2024

Tesla achieves record sales in China in 2024

Tesla achieves record sales in China in 2024
Tesla once again achieved impressive sales figures in China in 2024. With an annual sales increase of 8.8%, the electric car manufacturer recorded over 657,000 vehicles sold, which is a new record high. But the competition is not sleeping - the market share of Tesla fell to 6% as local suppliers such as BYD are increasingly gaining market share. Can Tesla repeat this success in 2025?

Record figures, but a declining market share

Tesla has completed a strong year with over 83,000 sales in December 2024. Nevertheless, the declining market share shows that competition in the Chinese market is getting tougher. Manufacturers such as BYD now dominate with a market share of around 34%, enticing customers with lower prices and innovative features.

Price reductions and discounts as a strategy

In order to remain competitive Tesla has reduced the prices for the Model Y and Model 3 in China at the end of December 2024. The Model Y is now available from 239,900 yuan (approx. 31,577 euros), while the Model 3 starts at 231,900 yuan (approx. 30,524 euros). In addition Tesla an interest-free loan to attract potential customers. Despite these measures Tesla far above the price of models from Chinese suppliers such as the BYD Seagull or Yuan Plus.

Competition never sleeps

Chinese manufacturers are impressing with new models and innovative features such as built-in refrigerators and advanced driver assistance systems. Tesla has a hard time keeping up with this pace, as the portfolio appears limited and outdated. In addition, Chinese manufacturers are focusing on plug-in hybrids and vehicles with an extended range, which appeal to a broader target group.

Tariffs and trade barriers

International trade barriers could further exacerbate the situation. While the USA and the EU have introduced high tariffs on Chinese electric cars, Chinese manufacturers are benefiting from Tesla from lower tariffs. Nevertheless, BYD remains strong and has become the world's leading supplier of electric vehicles in 2024.

What does the future look like?

Although Tesla continues to be perceived as a premium brand, the company must develop new products and strategies to secure its position. The focus on price reductions and discounts alone will not be enough to remain competitive in the long term. The pressure to offer innovative features and models is growing - especially in a dynamic market like China.

Keywords: Tesla, Tesla Model Y, Tesla Model 3, Tesla Accessories, Tesla Store, Shop4Tesla, Tesla News, Record sales Tesla, BYD market share, Tesla China market, Tesla price reductions, electric car market China, BYD Seagull, Tesla Model Y price, competition electric cars


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