Tesla's Sales Recovery in China... June Sales Increase by 29% Compared to Previous Month

[Photo by EPA Yonhap News]

[Asia Economy Reporter Park Byung-hee] The sales volume of American electric vehicle manufacturer Tesla in China is showing signs of recovery.

According to the China Securities Journal on the 12th, Tesla's Shanghai factory sold 33,155 units last month, a 29% increase compared to May. Tesla ranked second in new energy vehicle sales in China last month, following the domestic company BYD.

At the Shanghai Motor Show in April, a female car owner claiming that an accident occurred due to brake failure staged a surprise protest by climbing onto the roof of a Tesla display vehicle. Following this, public opinion in China strongly sympathized with the protesting owner and criticized Tesla, leading to a decline in Tesla's sales in the Chinese market starting from April, causing difficulties for the company.

Tesla is aggressively targeting the Chinese market by significantly lowering the price of its two main models in China, including the Model Y. Recently, Tesla launched a China-made 'Standard' Model Y equipped with a lithium iron phosphate (LFP) battery, pricing it at 276,000 yuan.

Although the driving range per charge is 525 km, which is 69 km shorter than the higher-tier Long Range Model Y previously sold, the price is 71,900 yuan (approximately 12.8 million KRW) cheaper.

The effect of the significant price reduction has been strong, with over 15,000 customers making reservations within two days of the launch, indicating a hot initial market response.

A Tesla official told Securities Times, "The (Standard) Model Y display vehicles have recently been sent to stores nationwide one after another," adding, "There are many people at each store recently, and orders are already filled through September."

In the first half of this year, Tesla sold 160,000 vehicles in the Chinese market. The proportion of Tesla's sales in China accounts for 42% of its global sales volume.

This content was produced with the assistance of AI translation services.