Tesla sells 21,900 eVs in a week, sets Q4 sales record in China

Tesla sold 21,900 electric vehicles (EVs) in China during the first week of December, its highest weekly sales in the fourth quarter of 2024. This impressive start follows a record-breaking November, with over 73,000 EVs sold—the company’s best month in China this year.

Tesla’s Model Y, a consumer favorite, has cemented its status as the best-selling passenger vehicle in China, with 556,000 units sold in 2024. Analysts say this performance reflects strong consumer demand and strategic pricing, despite stiff competition from local automakers.

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“Tesla’s numbers show that the market still values premium EVs,” said automotive analyst Li Zheng. “But they face a tough road ahead against aggressive local players like BYD.”

To boost year-end sales, Tesla has introduced a 10,000-yuan ($1,375) discount on Model Y loans. This move aims to counter the cost-cutting strategies led by Chinese automakers like BYD, which dominate the EV market with competitive pricing.

The surge in Tesla’s sales comes at a time when China’s EV market, the world’s largest, is becoming increasingly competitive. “Tesla’s performance signals their resilience in the face of mounting local competition,” said Zhang Wei, a market strategist.

China accounted for nearly half of Tesla’s global sales in 2023, highlighting the market’s critical role in the automaker’s growth strategy. With this December boost, Tesla looks poised to end the year on a high note, reaffirming its place in the competitive EV market.