Tesla Gross sales & Market Share Tendencies in China

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September 13, 2024

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Yesterday, I seen that BYD’s share of the Chinese language auto market actually had grown loads over the course of the 12 months, and I produced an article that includes month-to-month market share charts to visualise that. Within the feedback, a reader, Mike Sarcione, famous, “Zach didn’t embody Tesla’s Chinese language market share in his current article, however that will be good FYI.” I imagine that was referencing my article from the day earlier than, “Is Tesla On Observe for Gross sales Progress (or Gross sales Decline) in 2024?.” It was an awesome suggestion, so right here we’re.

On this case, I’m including one further chart on high of the 2 forms of charts I created for BYD. Along with charts on Tesla’s share of the Chinese language auto market and Tesla’s share of the Chinese language NEV market, I’m additionally together with a chart exhibiting Tesla’s month-to-month gross sales in China. Let’s get into it.

To begin with, simply Tesla’s month-to-month gross sales in China, we are able to see that the primary two months of the 12 months (which embody the Chinese language New Yr, a really down interval for auto gross sales) had been notably weak months. March confirmed a reasonably robust rebound, however then the corporate had a reasonably weak interval till August. Total, as talked about within the aforementioned Tesla-focused article, the corporate’s gross sales in China had been down 12 months over 12 months by the primary 8 months of the 12 months. (Additionally, whereas July seems to be like a down month within the chart above, Tesla’s gross sales had been really up 47% 12 months over 12 months; and whereas August seems to be like a a lot better month, Tesla’s gross sales had been really down 2% 12 months over 12 months.)

However how did these ups and downs relate to the market total within the first 8 months of the 12 months? I’m glad you requested. Let’s take a look.

Properly, we’ve acquired Tesla’s quarterly up and down traits which have been frequent on the firm because the starting. That results in what appear to be robust fluctuations. Nevertheless, total, the vary is from 1.3% of the Chinese language auto market to 2.6%. Normally, we are able to that Tesla is hovering at round 2% of the Chinese language auto market.

Taking a look at Tesla’s share of the brand new power car (NEV) market, which incorporates each full battery-electric automobiles (BEVs) and plugin hybrids (PHEVs), it’s an identical story. Although, Tesla clearly did higher within the first quarter. On common, the corporate had 6.6% of the Chinese language NEV market within the first 8 months of the 12 months.

In brief, although, I don’t see any robust traits with regard to Tesla gross sales or market share in China. That’s a transparent distinction to BYD, which has seen its share of the Chinese language auto market rise fairly steadily all through 2024.

There’s not such a robust pattern when BYD’s share of the Chinese language NEV market. I take that to imply that the NEV market is rising quick and hyper-competitive, which it’s. There’s plenty of competitors on the NEV market. BYD does dominate it, however it’s really a continuing problem to only keep market share — as Tesla’s third chart above reveals very properly.