Tesla’s domestic sales in China collapsed 45% year-over-year in January, falling to just 18,485 units — the automaker’s lowest monthly retail figure in the country since November 2022. The data, released today by the China Passenger Car Association (CPCA), paints a grim picture of Tesla’s demand in the world’s largest EV market.
The figure represents an 80% plunge from December’s record-high 93,843 domestic deliveries. While seasonal declines between December and January are normal in China, a 45% year-over-year drop is not.
Any idea if this is within expected ranges or is there something breaking down. I know that there has been speculation that the way the industry was operating wasn’t sustainable, but is this a natural/maintainable shift or something else?
I recall the general observation that a lot of Chinese EV companies were being built up, quickly building production capacities that, taken together, greatly exceed demand, each company hoping to be among the few that eventually survive. So that what we’re now seeing would be this show down