Musk’s Tesla sees rare win in China, but global sales remain erratic

Tesla’s Shanghai plant sent out 71,599 vehicles in June, 0.8% more than in June last year and 16% above May’s total. This marks its first annual delivery gain this year after China approved its upgraded driver-assistance technology. The China Passenger Car Association released the data on Wednesday without separating domestic sales from exports. Until June, deliveries from Shanghai had mostly drifted downward. Bloomberg reports this modest gain follows new guidelines unveiled in June by Beijing to pave the way for broader deployment of Tesla’s most advanced driver-assistance programs. The rules are seen as a key step in a market where buyers now pay close attention to smart vehicle technology. The EV maker’s Shanghai facility remains central to its global output, serving both domestic shoppers and overseas customers. It is especially critical for exports to Europe , where the company has struggled to keep pace amid rising competition and growing political headwinds. According to the same trade group, sales of new-energy vehicles in China, including pure electric models and plug-in hybrids, rose 29% in June to reach 1.26 million units sold to dealers, compared with a year earlier. Tesla sees sales rise in Norway and Spain Tesla’s registrations climbed in Norway and Spain, hinting that buyers are embracing its refreshed Model Y. Portugal also saw sales edge up, although local figures did not clarify if the Model Y drove that increase. Recent protests over CEO Elon Musk’s links to former President Donald Trump and support for far-right politics in Europe have taken a toll, with shows of vandalism against Tesla’s showrooms and charging points. Schmidt Automotive data show Tesla has recorded six straight year-on-year quarterly losses in new registrations across Western Europe. It looks like Musk’s EV firm will record its seventh straight drop in deliveries in the second quarter of 2025. Tesla began taking orders for its updated Model Y several months ago, but deliveries to many European customers did not start until June. In Norway, the first new Model Ys reached buyers in May, sparking a jump in registrations of 54% year-on-year in June and a 115.3% rise for the Model Y to 5,004 units. “This is a demonstration of power by Tesla. After so much turmoil surrounding owner and frontman Elon Musk, they manage to achieve this result. It’s impressive,” said Erik Lorentzen, head of the Norwegian Electric Vehicle Association. In Spain, Tesla’s sales jumped 60.7% in June to 2,632 vehicles, with Model Y deliveries up 127.2% to 1,179. In Portugal, overall Tesla sales rose 7.3%. “Significant percentage changes often hide small numbers, and some European markets only have hundreds or low thousands of sales each month, which can be impacted by logistics, stock levels, and new product launches,” said Andy Leyland, co-founder of supply-chain specialist SC Insights. Sweden and Denmark sales sink over 60% Tesla’s registrations fell sharply in Sweden, down 64.4% in June. In Denmark, overall deliveries slid 61.6%, with Model Y sales dropping 31.2% to 1,155 cars. Tesla’s sales were also down 10% in France and plunged 66% in Italy, even as all-electric car registrations in Italy rose 117% in June. Tesla has not introduced a new mainstream model since 2020, while legacy automakers are rolling out more affordable electric cars and Chinese rivals like BYD gain market share rapidly. “A new model update is the classic extension strategy for a product that is used to inflate a product’s lifecycle, giving a short-term bounce,” said Matthias Schmidt of Schmidt Automotive. The publication of Tesla’s monthly registration figures came as Musk renewed his public dispute with Donald Trump over a sweeping tax cut and spending bill. TSLA shares closed down 5.3% in Wednesday afternoon trade. Tesla is due to announce another drop in quarterly figures on Wednesday. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

Source: Cryptopolitan