Tesla Gross sales & Market Share Tendencies in China

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Yesterday, I seen that BYD’s share of the Chinese language auto market actually had grown lots over the course of the yr, and I produced an article that includes month-to-month market share charts to visualise that. Within the feedback, a reader, Mike Sarcione, famous, “Zach didn’t embrace Tesla’s Chinese language market share in his latest article, however that will be good FYI.” I imagine that was referencing my article from the day earlier than, “Is Tesla On Observe for Gross sales Progress (or Gross sales Decline) in 2024?.” It was a terrific suggestion, so right here we’re.

On this case, I’m including one further chart on prime of the 2 forms of charts I created for BYD. Along with charts on Tesla’s share of the Chinese language auto market and Tesla’s share of the Chinese language NEV market, I’m additionally together with a chart exhibiting Tesla’s month-to-month gross sales in China. Let’s get into it.

To start with, simply Tesla’s month-to-month gross sales in China, we are able to see that the primary two months of the yr (which embrace the Chinese language New Yr, a really down interval for auto gross sales) have been notably weak months. March confirmed a reasonably sturdy rebound, however then the corporate had a reasonably weak interval till August. Total, as talked about within the aforementioned Tesla-focused article, the corporate’s gross sales in China have been down yr over yr by the primary 8 months of the yr. (Additionally, whereas July appears like a down month within the chart above, Tesla’s gross sales have been really up 47% yr over yr; and whereas August appears like a significantly better month, Tesla’s gross sales have been really down 2% yr over yr.)

However how did these ups and downs relate to the market total within the first 8 months of the yr? I’m glad you requested. Let’s take a look.

Properly, we’ve received Tesla’s quarterly up and down tendencies which were frequent on the firm because the starting. That results in what appear to be sturdy fluctuations. Nevertheless, total, the vary is from 1.3% of the Chinese language auto market to 2.6%. Generally, we are able to that Tesla is hovering at round 2% of the Chinese language auto market.

Tesla’s share of the brand new vitality automobile (NEV) market, which incorporates each full battery-electric autos (BEVs) and plugin hybrids (PHEVs), it’s an analogous story. Although, Tesla clearly did higher within the first quarter. On common, the corporate had 6.6% of the Chinese language NEV market within the first 8 months of the yr.

In brief, although, I don’t see any sturdy tendencies with regard to Tesla gross sales or market share in China. That’s a transparent distinction to BYD, which has seen its share of the Chinese language auto market rise fairly steadily all through 2024.

There’s not such a powerful development when BYD’s share of the Chinese language NEV market. I take that to imply that the NEV market is rising quick and hyper-competitive, which it’s. There’s a number of competitors on the NEV market. BYD does dominate it, but it surely’s really a continuing problem to simply keep market share — as Tesla’s third chart above reveals very properly.

Some other ideas on these gross sales tendencies and market share tendencies in China?