"The CPCA estimated that China's passenger new energy vehicle wholesale volume reached about 900,000 units in January, up 1% year-on-year but down 42% from December. Demand has been pressured by the start-of-year slow season, a 5% additional purchase tax cost, and uncertainty around the transition of vehicle trade-in subsidies, as noted in a report from CNEV Post. Market leader BYD sold 210,051 NEVs in January, down 30.11% year-over-year and 50.04% month-on-month, as per data released on February 1."
"To counter weaker seasonal demand, Tesla China launched a low-interest financing program on January 6, offering up to seven-year terms on select produced vehicles. The move marked the first time an automaker offered financing of that length in the Chinese market. Several rivals, including Xiaomi, Li Auto, XPeng, and NIO, later introduced similar incentives. Tesla China then further increased promotions on January 26 by reinstating insurance subsidies for the Model 3 sedan."
Tesla China wholesale sales in January totaled 69,129 Giga Shanghai-made vehicles, including domestic sales and exports, a 9.32% year-on-year increase and a 28.86% month-on-month decline from December's 97,171 units. China's passenger new energy vehicle wholesale volume reached about 900,000 units in January, up 1% year-on-year but down 42% from December. Demand faced pressure from the start-of-year slow season, a 5% additional purchase tax, and uncertainty around vehicle trade-in subsidy transitions. Market leader BYD sold 210,051 NEVs in January, falling sharply. Tesla China launched a low-interest financing program with up to seven-year terms and reinstated Model 3 insurance subsidies to counter weak demand.
Read at TESLARATI
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