Tesla had record electric vehicle (EV) sales in China for the last month of the year and an increase in sales for the full year, again solidifying the world’s largest automotive market as an important one for the U.S. company.
On Friday, Tesla China reported that its 2024 EV sales rose 8.8 percent year over year to more than 657,000 vehicles, while the company’s global deliveries fell slightly by 1.1 percent to over 1.79 million (via Reuters). Tesla’s sales in China also jumped 12.8 percent in December from the previous month, landing a record monthly high of over 83,000 vehicles delivered.
Sales in the market made up 36.7 percent of Tesla’s full-year deliveries, and the company globally outpaced EV sales from China-based automaker BYD, which sold 1.76 million battery-electric units globally for a year-over-year increase of 12.1 percent.
READ MORE ON TESLA CHINA: Tesla China ends Q4’s last full week with 18,600 new vehicle registrations
Tesla also launched a number of late-term promotions in the Chinese market, including the extension of an RMB 10,000 yuan ($1,369.99) discount on the final payment for Model Y purchases. The company also extended a five-year, zero-interest financing deal on its Model Y and Model 3 units, which is now set to continue until the end of this month.
The news of Tesla’s sales growth also comes as the upcoming Model Y “Juniper” has been spotted more frequently in both the U.S. and China, and as reports have said that the company’s Gigafactory in Shanghai has started producing the refreshed EV in increasing volumes. The company’s extension of the aforementioned promotions is also widely thought to be aimed at clearing out inventory in advance of the refreshed SUV.
In addition to producing vehicles for the Chinese market, Giga Shanghai produces vehicles for a number of surrounding markets in the Asia-Pacific region.
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