China dominates the global electric car market, but the country's best-selling model is a surprise: it's not Chinese. Find out which car is winning over the Chinese.
In 2024, China continued its impressive expansion in the global electric car market, exporting around 1,28 million units to countries around the world. world.
This number represents a growth of 6,7% compared to the previous year, further consolidating the country as the largest exporter of electric cars in the world. planet.
With a combination of advanced technology, competitive prices and strong production capacity, Chinese automakers have been conquering markets in Europe, Latin America and even the United States, where competition is fierce.
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China, the global epicenter of the electric car revolution, saw a record in 2024. More than 31 million cars were sold in the country, with a large chunk of those being electric car models.
China's best-selling electric car isn't Chinese
The highlight, however, was a vehicle that, curiously, is not Chinese. The Tesla Model Y dominated sales, outperforming local competitors that are growing rapidly.
From January to December 2024, Tesla sold 480.309 Model Y units in China. This number represents a growth of 5,24% compared to the previous year, when 456.394 units were sold.
The result is striking, especially because, in other regions of the world, the model has lost market share due to the wait for its update, known as the Juniper project, already launched this year.
Local competition and future challenges
While the Model Y remains the leader in China, in countries like Norway and Iceland, sales have dropped significantly.
In Norway, the drop was 27%, while in Iceland, the decline reached 87%. Luxembourg also saw a decline of 31%.
The reason for this loss of interest is the lack of significant innovations since its launch in 2019, causing the model to lose steam compared to more modern competition.
Despite the global decline, Tesla remains firmly at the top of global sales. China's BYD narrowly missed out on overtaking the American brand in global sales volume.
The difference was only a few tens of thousands of units. In December 2024, Tesla achieved one of its best months, selling 61.881 Model Y units, which represented the third highest record in its history in China, behind only November 2022, with 69.098 units, and August of the same year, with 62.169 units.
The new version of the Model Y electric car could help Tesla maintain its lead in 2025. The launch of the updated model in China has generated great enthusiasm, racking up more than 50.000 reservations in the first 24 hours. This was despite a slight increase in price compared to the previous version.
However, the mechanical changes were smaller than expected, raising questions about its ability to sustain consumer interest in the long term.
Local competition is becoming increasingly aggressive. Chinese brands such as NIO, XPeng and BYD are investing heavily in new technologies, innovative designs and competitive prices. These advances put pressure on Tesla, which needs to constantly reinvent itself to maintain its position in such a dynamic market.
Shanghai Gigafactory
In terms of electric car production, the Shanghai Gigafactory has been instrumental in the success of the Model Y in China.
The unit manufactures electric cars for the domestic market and for export, consolidating China as a strategic hub for Tesla.
Production efficiency and proximity to local suppliers are factors that helped the company maintain its competitiveness in the country.
Auto analysts believe Tesla's growth in China will remain strong, but the company will need to innovate faster to compete with local automakers.
Introducing more affordable models or models with new advanced features could be key to holding off the competition.
The next market review in 2025 will tell whether the Model Y can maintain its prominent position in China and worldwide. The challenge is great, but Tesla has shown its ability to adapt to the new dynamics of the automotive sector.
They are the best
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The factory is not of Chinese ORIGIN, but is located in China…
This needs to be made very clear!