Tesla’s China-Made EV Sales Increase 3% YoY in August

Tesla (TSLA.O) reported a 3% year-over-year increase in sales of its China-produced electric vehicles (EVs) for August, according to the China Passenger Car Association (CPCA). This uptick reflects continued growth in Tesla’s presence within China’s competitive EV market.

Specifically, deliveries of Tesla’s locally manufactured Model 3 and Model Y saw a notable 17% rise from the previous month, demonstrating robust consumer interest and solid performance for these models.

Meanwhile, BYD (002594.SZ), a prominent Chinese EV manufacturer, achieved impressive results. The company’s sales for its Dynasty and Ocean series of electric and plug-in hybrid vehicles soared by 35.3% compared to the same month last year, hitting a new record with 370,854 units sold. This exceptional growth highlights BYD’s increasing dominance and success in the electric vehicle sector.

Overall, the latest figures illustrate a vibrant and expanding electric vehicle market in China, with both international and local brands making significant strides.