Tesla’s China-made EV sales slump 31% in July m/m

U.S. automaker Tesla sales of its China-made vehicles slumped 31% in July from a month earlier, data from the China Passenger Car Association (CPCA) showed on Thursday, as the company prepared its Shanghai plant for the upcoming new Model 3. Its Chinese rival BYD, with its Dynasty and Ocean series of EVs and petrol-electric hybrid vehicles, posted a 61% year-on-year rise in July sales to 261,105 passenger vehicles, including 18,169 which were exported, according to BYD. Tesla slashed prices at the start of the year, initiating a price war with 40-plus brands in China who followed suit.