The news: The number of electric vehicles Tesla shipped from its factory in Shanghai declined in October, reversing an increase notched the month prior.
The numbers: The number of Tesla’s China-made EVs shipped in October fell 9.9% to 61,497 units, according to preliminary data from the China Passenger Car Association released on Tuesday. The fall marks a reverse from the 2.8 increase Tesla reached in September.
Tesla’s key rival BYD also posted a 12% decline in global vehicle sales in October, its second consecutive monthly decline and its steepest drop in almost two years.
The context: While the data released on Tuesday does not detail the split between exports and domestic sales, the majority of vehicles do go to customers in China.
Despite reporting an unexpected increase in quarterly vehicle sales early last month, as US consumers rushed to buy electric-cars ahead of the expiry of federal tax credits, Tesla’s outlooks remains uncertain as its European demand slows and the US tax credit incentive ends.
The carmaker unveiled cheaper Model Y SUV and Model 3 sedans after the tax incentive for US vehicle buyers expired last month, but investors have raised concerns that the new Standard models could primarily cannibalise sales of higher-priced versions.
