Tesla’s electric vehicle sales in China slumped by more than 24% in June compared with 2023, marking the fourth time this year that the EV giant’s shipments to China have fallen in the face of domestic competition. However, the carmaker had a better-than-expected second quarter globally, it announced Tuesday, beating analysts’ projections that it would sell fewer than 444,000 vehicles. It’s a “comeback performance” for Tesla, one analyst told The Washington Post, adding “the mojo is back in the Tesla story” after a shaky first quarter. Still, Tesla is facing a challenge in China — the world’s largest EV market — due to a lack of affordable new models, with Chinese EV-maker BYD posting a 21% increase in Q2 sales, according to Reuters. |