Overview
- CPCA data show Tesla exported 50,644 cars from Shanghai in January, or about 73% of its 69,129 wholesale tally, while domestic retail sales fell 45% year over year to 18,485.
- Xiaomi’s YU7 was China’s top-selling vehicle with 37,869 units, roughly double Tesla’s Model Y at 16,845, which dropped to 20th in the overall rankings.
- China’s NEV exports reached 286,000 in January, up 103.6% year over year, with BYD leading at 96,859 units and Tesla China ranking second.
- Global EV registrations declined 3% in January, with China down about 20% to under 600,000 and North America down 33%, while Europe rose 24%, according to BMI data reported by Reuters.
- Analysts and CPCA attribute the weak start to a December pull‑forward ahead of China’s reinstated 5% NEV purchase tax and reduced incentives, compounded by typical early‑year seasonality.