Tesla China sales fall 70 percent in October: automotive sector



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FILE PHOTO: A man finishes loading his Tesla car at a loading point outside Tesla China's headquarters in Beijing, China on July 11, 2018. REUTERS / Jason Lee / Photo Archive

BEIJING / SHANGHAI (Reuters) – Tesla Inc (TSLA.OVehicle sales in China fell 70 percent last month from a year earlier, Reuters told Reuters on Tuesday, noting that the Sino-US trade war is harming the US electric car maker.

A representative of the Passenger Cars Association of China said that the agency's data showed that Tesla sold only 211 cars in the world's largest automotive market in October.

Tesla did not respond to repeated phone calls and requests for comments on Tuesday.

The electric car maker, which imports all the cars it sells in China, said in October that increases in car import tariffs were pushing its sales there. In July, Beijing raised tariffs on US auto imports to 40 percent amid a worsening trade deadlock with the United States.

As so-called new-vehicle sales continued to rise in China, broader car sales slowed sharply since the middle of the year, taking the market to the brink of its first annual sales contraction in almost three decades.

Tesla, led by billionaire chief executive Elon Musk, said last week it was cutting the price of its Model X and Model S cars in China on a strategy change to make cars more affordable and absorb more of the impact of higher fares. high

Tesla recently secured the location of its first overseas factory in Shanghai, which will help avoid high tariffs.

Reporting by Yilei Sun and Adam Jourdan; Editing by Himani Sarkar

Our Standards:The Thomson Reuters Trust Principles.

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