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Tesla (TSLA.US) year-end target tightens, China deliveries fall again

Market IntelTuesday, Dec 3, 2024 6:00 am ET

1min read

Despite Chinese government subsidies aimed at attracting more consumers to buy electric vehicles, Tesla's Shanghai factory delivered 78,856 vehicles in November, down 4.3% year-on-year, according to preliminary data released by CPCA on Tuesday. The figure was up 15.5% from October.In the world's largest auto market, major brands including Tesla and local rivals like BYD are offering extra discounts to car buyers to help meet year-end sales targets. China is crucial for Tesla, whose performance in the country this quarter will be key to ending 2024 with record sales.Tesla must sell at least 515,000 electric vehicles globally in the last three months of 2024 to meet its guidance for "modest growth" from last year's 1.81 million deliveries.In addition, CPCA said the wholesale sales of new energy passenger vehicles in China in November were 1.46 million units, up 51% year-on-year.

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