Tesla’s China Sales Hit Record 657,000 Units In 2024

Tesla Inc. has achieved a remarkable milestone in China, selling over 657,000 vehicles in 2024. This marks an impressive 8.8% increase compared to the previous year, reinforcing China’s position as a critical market for Tesla’s growth. The country now contributes 36.7% of Tesla’s global sales, underscoring its importance in the company’s overall strategy.

However, on the global stage, Tesla faced challenges, recording its first-ever annual decline in deliveries. Total deliveries dropped by 1.1%, reaching 1.79 million vehicles for the year.

Tesla closed 2024 on a high note in China, delivering 83,000 vehicles in December alone, a 12.8% increase compared to the same period in 2023. This strong performance comes amidst fierce competition from local electric vehicle (EV) manufacturers, particularly BYD, which continues to dominate global EV sales.

Globally, Tesla’s decline in sales contrasts with its growth in China. The drop in deliveries is attributed to a mix of factors, including increased competition, supply chain challenges, and economic uncertainties in key markets.

Despite these hurdles, China’s market has provided a crucial boost to Tesla’s overall performance. Its growth in the region highlights the company’s ability to navigate challenges in the world’s largest EV market.