Tesla's China sales decline as BYD sets new record in November

Tesla's sales in China fell 4.3% year-on-year in November, totaling 78,856 vehicles, according to the China Passenger Car Association. Despite a 15.5% increase from October, the year-on-year decline reflects growing competition. In contrast, BYD achieved a record 504,003 vehicle sales in November, marking a 67.2% increase from the previous year. Tesla is responding with a loan discount for its Model Y and has extended zero-interest financing through December. Tesla's market share in China's electric vehicle sector dropped to 6% in October, its lowest in a year. Analysts expect a sales surge in the fourth quarter, driven by increased demand and expanded subsidies for electric and hybrid vehicles.