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Tesla's China Sales Plummet Amid Fierce EV Competition

11/25/2025

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Summary

Story summary

Tesla, Inc., the U.S. electric-vehicle maker, saw China sales fall in October to 26,006 units and 3.2% market share, down from 8.7% in September.
Analysts attribute the drop to competition from Xiaomi and Leapmotor, and Xiaomi's new EVs set record sales while Leapmotor pressures Tesla.
Tesla reported a 12% revenue rise to $28.10 billion in the third quarter, while Europe remains challenging.

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Story summary

Tesla, Inc., the U.S. electric-vehicle maker, saw China sales fall in October to 26,006 units and 3.2% market share, down from 8.7% in September.
Analysts attribute the drop to competition from Xiaomi and Leapmotor, and Xiaomi's new EVs set record sales while Leapmotor pressures Tesla.
Tesla reported a 12% revenue rise to $28.10 billion in the third quarter, while Europe remains challenging.