Confronted with unprecedented local competition and weakened consumer sentiment in Asia's largest economy, Tesla's market share shrank to around 6.7% for the quarter ended in December, from 10.5% in the first quarter of last year, according to Bloomberg calculations based on China's Passenger Car Association data.
While the PCA has yet to provide a breakdown of how many vehicles leaving Tesla's Shanghai factory were shipped locally in March, figures for the first two months of the year show the carmaker's share slipped to around 6.6% from 7.9% during the same period a year ago, when Covid restrictions were just lifted.
This story is from the April 04, 2024 edition of Financial Express Mumbai.
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This story is from the April 04, 2024 edition of Financial Express Mumbai.
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