Tesla Inc. shipments from its Shanghai factory dropped year-on-year in April despite growth in the overall market for new-energy cars, another sign of the pressure Elon Musk’s company is under in China’s hyper competitive automobile sector, reports Caixin. Tesla’s April deliveries, which includes cars for sale domestically as well as for export, came in at 62,167 units, down 18% from April 2023, preliminary data from China’s Passenger Car Association (CPCA) released Tuesday showed.
More broadly, new-energy passenger vehicle wholesale deliveries were estimated at 800,000 units, up 33% year-on-year, evidence that price cuts and government support are once again enticing consumers.
The preliminary CPCA data mirror strong individual reports from some of China’s top electric vehicle (EV) brands.