Tesla Sold 86,697 Electric Vehicles in China Last Month, 3% Increase Year-on-Year

Effect of Increased Chinese Government Subsidies

US electric vehicle company Tesla's sales volume in China increased for the second consecutive month last month.

[Image source=Yonhap News]

According to the China Passenger Car Association (CPCA) on the 2nd (local time), Tesla shipped 86,697 electric vehicles, including the 'Model 3' and 'Model Y', in China in August this year. This represents a 3% increase compared to the same period last year.

The increase is attributed to the Chinese government's expansion of electric vehicle subsidies to 20,000 yuan (approximately 3.8 million KRW) at the end of July, doubling the previous amount, which boosted demand for electric vehicle purchases. According to the CPCA, automakers sold about 1.05 million electric and hybrid vehicles in August, a 32% increase compared to one year ago.

In China, electric vehicle sales surpassed internal combustion engine vehicle sales for the first time in July. This is attributed to the effect of government subsidies, and it is expected that monthly electric vehicle sales will once again exceed those of internal combustion engine vehicles.