Tesla is wrapping up 2024 on a strong note in China, selling 21,900 electric vehicles (EVs) in just the first week of December. This marks the company’s highest weekly sales in the fourth quarter, according to Tesla China.
This achievement follows an impressive November, where Tesla recorded over 73,000 vehicle sales in China, making it the best month for the company in the region this year. The Model Y has been a standout success, becoming the best-selling passenger vehicle in China in 2024 with 556,000 units sold over the year.
To maintain momentum and counter competition from local rival BYD, Tesla has introduced year-end incentives. These include a time-limited discount of 10,000 yuan ($1,375.89) on outstanding loans for the Model Y. BYD’s aggressive cost-cutting strategies have added pressure, but Tesla’s incentives aim to attract more buyers during the holiday season.
China remains a crucial market for Tesla as it competes in the fast-growing EV sector. With new strategies and consistent demand for its vehicles, Tesla is well-positioned to end the year on a high note.
As the competition in the EV market intensifies, Tesla’s ability to innovate and adapt will determine its continued success in China and beyond. Stay tuned for more updates on Tesla’s journey in the world’s largest EV market!
