Tesla extends Chinese-made EV growth as sales surge in May

[BEIJING] Tesla’s Chinese-made electric vehicle sales jumped 39.4 per cent from the year-ago period in May, marking a seventh consecutive month of growth as it held its ground against Chinese rivals.

Deliveries of Tesla’s Model 3 and Model Y vehicles from its Shanghai plant, including units exported to Europe and other markets, hit 85,982, up 8.2 per cent from April, data from the China Passenger Car Association showed on Tuesday (Jun 2).

The US automaker’s new registrations rebounded in several European markets in May, extending a recovery after earlier demand weakness in the continent.

Meanwhile, BYD maintained strong shipments to Europe and other markets, helping Tesla’s biggest Chinese competitor end a losing streak of eight months globally.

It also highlights a growing pressure on foreign automakers.

Echoing a broader shift from price wars towards product differentiation and technology, BYD has doubled down on sharpening its technological edge.

SEE ALSO

Tesla raises prices of Model Y cars in the US for the first time in two years

Tesla’s Musk expects widespread use of cars without human monitors in US this year

SpaceX writes Tesla’s future in the stars

Asean Intelligence

Get insights into businesses across South-east Asia

Get the free report

This includes a pledge on May 28 to fully cover compensation and repairs for a year of accidents involving its City Navigation driver-assistance function.

Tesla, by contrast, is still awaiting regulatory approval in China to roll out its most advanced driver-assistance features.

The delay could weigh on its competitiveness, as local rivals accelerate upgrades of smart-driving capabilities. REUTERS