Tesla reported a significant achievement in 2024 as its China sales soared by 8.8% to over 657,000 cars, marking a record high. This contrasts with a 1.1% decline in global deliveries, showcasing China’s role as Tesla’s most robust market amid a global downturn in electric vehicle (EV) sales.
In December alone, Tesla’s China sales surged by 12.8% compared to the previous month, reaching 83,000 units. China accounted for 36.7% of Tesla’s total deliveries in 2024, solidifying its position as the company’s second-largest market.
Analysts attribute this outperformance to China’s strong EV market, which represented 70% of global EV and hybrid sales in the first 11 months of 2024. The rise contrasts with challenges in other markets, including reduced subsidies in Europe, a preference for lower-cost hybrid vehicles in the U.S., and intensified competition from Chinese automaker BYD.
Despite Tesla’s global workforce reductions and a price war in China, the company has extended discounts and zero-interest financing to boost sales of its popular Model Y and Model 3 cars.
With 1.79 million cars sold globally, Tesla narrowly retained its lead over BYD, which achieved 1.76 million EV sales worldwide.
