Tesla China sales plunge 70% in October: the body of the automotive industry

BEIJING / SHANGHAI (Reuters) – Tesla Inc's (TSLA.O) Vehicle sales in China fell 70% last month compared to last year, the country's tourism car association said Tuesday to Reuters, pointing out that the trade war between Sino and the United States was hitting the American manufacturer of electric cars.

An official of the China Passenger Car Association said that industry data showed that Tesla had sold only 211 cars in the world's largest car market in October.

Tesla has not responded to repeated calls and written requests for comments on Tuesday.

The maker of electric cars, which imports all cars sold in China, said in October that tariff increases on auto imports had a negative impact on its sales in that country. In July, Beijing increased tariffs on US auto imports to 40%, while the stalemate on trade with the United States worsened.

While new energy vehicle sales have continued to increase in China, auto sales have slowed sharply since the middle of the year, bringing the market to the brink of the first contraction of its markets. annual sales in almost three decades.

Tesla, led by billionaire CEO Elon Musk, announced last week that it was lowering the price of its X and S model cars in China as part of a strategy shift to make cars "more affordable "and to further absorb the impact of rate increases.

Tesla has recently secured the site of its first Shanghai plant in Shanghai, which will help it avoid very high prices.