BEIJING, Sept 2 Reuters Sales of U.S. automaker Tesla39;s Chinamade electric vehicles grew 3 in August from a year earlier, data from the China Passenger Car Association CPCA showed on Monday.
Deliveries of its Chinamade Model 3 and Model Y vehicles rose 17 from July.
Chinese rival BYD, with its Dynasty and Ocean series of EVs and plugin hybrids, posted a 35.3 yearonyear jump in passenger vehicle sales in August to a fresh monthly high of 370,854 units.
Other local EV competitors including Leapmotor and Li Auto also reported higher sales.
Tesla39;s rising China numbers, including domestic sales and exports to Europe and elsewhere, came amid extended incentives for local buyers as well as breakthroughs in winning over government backing.
An uptrend in Tesla39;s China sales seems to be underway in the thirdquarter even though its local sales force has undergone downsizing as part of the U.S. EV giant39;s global layoffs.
In July, Tesla saw a 78 yearonyear increase in deliveries in tierthree cities while its sales in the secondtier cities such as Hangzhou and Nanjing rose by 47, data and analysis by China Merchants Bank International CMBI showed.
We project Tesla39;s retail sales volume to hit 65,000 units in August aided by strong growth in smaller cities. Should such momentum continue in September, Tesla may post the highest quarterly sales volume in China in 3Q24, said Shi Ji, an analyst with CMBI in Hong Kong.
Tesla has been offering a financing plan with a…