2023-12-04 06:53:50 ET
Elon Musk's Tesla ( NASDAQ: TSLA ) reported a 17.8% Y/Y decline in China-made sales for November, totaling 82,432 vehicles, according to data reported by the China Passenger Car Association (CPCA) on Monday.
This marks the most substantial fall since December 2022, when Tesla's sales of China-made EVs dropped by 21% Y/Y.
However, the EV giant witnessed a sequential surge of 14.3% from 72,115 units sold in October.
On a YTD basis, Tesla sold 853,603 China-made vehicles, up ~31.3% Y/Y
Recently, Tesla ( TSLA ) held an event at the Gigafactory in Austin, Texas to showcase the first deliveries of the long-awaited Cybertruck.
In comparison to Tesla's performance, other key players in the electric vehicle (EV) market demonstrated varied results in November. XPeng ( XPEV ) reported a significant Y/Y increase of 245%, delivering 20,041 units. Li Auto ( LI ) achieved a delivery of 41,030 units, reflecting a notable Y/Y growth of 172.9% . Nio ( NIO ) delivered 15,959 units , representing a 12.6% Y/Y increase. BYD ( OTCPK:BYDDF ) emerged as a standout performer, selling 301,378 units in November, showcasing an impressive 31% Y/Y surge.
In terms of stock performance, TSLA has increased by nearly 121% so far in 2023, exceeding the overall market index, which has increased by more than 20%.
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Tesla's China-made EV sales surged 14% M/M, but fell 18% Y/Y