SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Tesla loses out to tough Chinese competition

The American electric car manufacturer Tesla's sales are falling in China. In January, 11.5 percent fewer cars were sold than a year ago.

» Published: February 08 2025

Tesla loses out to tough Chinese competition
Photo: David Zalubowski/AP/TT

January sales landed at 63,238 vehicles, compared to 71,447 the same month last year, reports CNBC.

Tesla is being pressed by tough competition from Chinese electric car manufacturers. Chinese BYD, for example, sold approximately 296,000 electric cars and hybrids in January, an increase of 47 percent in one year.

To boost sales in China, Tesla has tried price reductions and interest-free car loans on the best-selling Model Y.

Earlier in the week, it was reported that Tesla's sales had plummeted in several parts of Europe. In France, the decrease is 63 percent in one year, in Germany 59 percent, and in the UK 12 percent.

The decline comes at the same time as criticism of Tesla's CEO Elon Musk is growing in Europe. Musk – who is a close adviser to US President Donald Trump – has recently been in hot water for his fascist-like greeting at Trump's inauguration.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Trump's Steel Tariffs Introduced

Trump's Steel Tariffs Introduced

Trump downplays recession fears

Trump downplays recession fears

How much SEB's CEO earned last year

How much SEB's CEO earned last year

Escalated Tariff War: "Not Good at All"

Escalated Tariff War: "Not Good at All"

Sour on Wall Street

Sour on Wall Street

American Airlines flags loss

American Airlines flags loss

"Hold out" – Sweden's bid on defense loans

"Hold out" – Sweden's bid on defense loans

Lego is now the largest in the world

Lego is now the largest in the world

Thedéen: How a stronger krona can affect inflation

Thedéen: How a stronger krona can affect inflation

Trump's policy sends Wall Street tumbling – can spread

Trump's policy sends Wall Street tumbling – can spread

Volkswagen's Setback - Reporting Reduced Profit

Volkswagen's Setback - Reporting Reduced Profit

Stock Market Plunge after Trump's Tariff Announcement

Stock Market Plunge after Trump's Tariff Announcement

The Opposition Wonders – Is Ebba Busch Serious?

The Opposition Wonders – Is Ebba Busch Serious?

New protection - fraudsters forced to pay

New protection - fraudsters forced to pay

Darkening mood on Asian stock exchanges

Darkening mood on Asian stock exchanges

Blood Red on Wall Street - "Felt like a Death Spiral"

Blood Red on Wall Street - "Felt like a Death Spiral"

Record-breaking Rent Negotiation – Second Year in a Row

Record-breaking Rent Negotiation – Second Year in a Row

The Minister on Trump's Tariff Threats: EU Must Respond

The Minister on Trump's Tariff Threats: EU Must Respond

Stock market crash in New York – sharp decline for Tesla

Stock market crash in New York – sharp decline for Tesla

CEO: Geopolitical crisis can be a boost for Scania

CEO: Geopolitical crisis can be a boost for Scania

New Record for Swedish Arms Export

New Record for Swedish Arms Export

Sharp Drop in Novo Nordisk's Stock Following New Study

Sharp Drop in Novo Nordisk's Stock Following New Study

Stock Trading Resumes at DNB

Stock Trading Resumes at DNB

The Stockholm Stock Exchange closed in the red

The Stockholm Stock Exchange closed in the red

New Generation of Wallenbergs Takes Position

New Generation of Wallenbergs Takes Position

Inflation pressure from Nordic neighbors

Inflation pressure from Nordic neighbors

Record bonus for Scania employees

Record bonus for Scania employees

Slow Start for the Swedish Economy

Slow Start for the Swedish Economy

SAS and Norwegian cancel German flights

SAS and Norwegian cancel German flights

Fewer Believe in Rising Housing Prices

Fewer Believe in Rising Housing Prices

Mixed on Asian Stock Exchanges

Mixed on Asian Stock Exchanges

Still a shortage of beef

Still a shortage of beef

Strongest Support for the Euro in Sweden since 2009

Strongest Support for the Euro in Sweden since 2009

Lowest Gasoline Price in Several Years – and More to Come

Lowest Gasoline Price in Several Years – and More to Come

Trump dodges the question of a possible recession in the USA

Trump dodges the question of a possible recession in the USA

Europe's Giant Rearmament Faces Major Challenges

Europe's Giant Rearmament Faces Major Challenges

German strike threatens to paralyze air traffic

German strike threatens to paralyze air traffic

Company's hope - end to punctures

Company's hope - end to punctures

Warning in tax return season: High risk of fraud

Warning in tax return season: High risk of fraud

Billionaire wants to launch competitor to Eurostar

Billionaire wants to launch competitor to Eurostar