U.S. electric vehicle maker Tesla Inc (NASDAQ:TSLA) sold 32,968 China-made vehicles in July, including 24,347 for export, the China Passenger Car Association (CPCA) said on Tuesday.
Local sales of China-made vehicles plunged 69% to 8,621 cars from 28,138 in June. Tesla’s sales in the first month of each quarter are usually lower than the following two months.
The company, which makes Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 33,155 China-made vehicles in June.
Last month, Tesla introduced a cheaper version of the Model Y in China, where it faces increased scrutiny from both regulators and the public and growing competition from local rivals. It also lowered the starting price for Model 3 sedans.
China’s BYD sold 50,387 electric vehicles last month, while General Motors (NYSE:GM) Co’s China joint venture with SAIC Motor delivered 27,347 units.
CPCA also said China sold 1.52 million passenger cars in July, down 6.4% from a year earlier.
TSLA shares descended $9.79, or 1.4%, to $703.97
