Tesla sales in China dropped to a three-year low in October and the electric vehicle maker could see its first full-year sales decline in the country this year.
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sales in China dropped to a three-year low in October, raising concerns the electric vehicle maker could see its first full-year sales decline in the country this year.
Fierce competition from local rivals such as NIO
and Li Auto
— both reporting this week — and a bruising price war in the face of a down economy pushed Tesla’s China sales to 26,006 last month. The U.S. automaker’s share in the Chinese EV market shrank to 3.2% in October from 8.7% in September.
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