BEIJING (Reuters) – Sales of Chinese-made electric vehicles from U.S. automaker Tesla (NASDAQ:) fell 4.3% year-on-year to 78,856 in November, data from the China Passenger Car Association (CPCA) showed on Tuesday.
Deliveries of Chinese-made Model 3 and Model Y vehicles recorded a 15.5% increase from the previous month.
Chinese rival BYD (SZ:), with its Dynasty and Ocean ranges of EVs and plug-in hybrids, hit another monthly record, with passenger car sales rising 67.2% year-on-year to 504,003 units last month.
According to company data, foreign shipments represented 6.1% of total sales.
Tesla stepped up Chinese incentives at the end of the year with a time-limited 10,000 yuan ($1,375.89) discount on outstanding loans for its best-selling Model Y, as it lost ground amid a BYD-led cost-cutting competition.
The US carmaker extended zero-interest financing of up to five years for some Model 3 and Model Y cars in China for another month until the end of December, the fifth extension since it rolled out the scheme in July.
Tesla’s share of the world’s largest EV market shrank to 6% in October in terms of sales, almost half of September’s level and the lowest in a year, according to Reuters calculations based on CPCA figures.
