Tesla’s China-made EV sales fall 9.9% y/y in October

BEIJING (Reuters) -Tesla’s China-made electric vehicle sales fell 9.9% to 61,497 units in October from a year earlier, reversing a 2.8% increase in September, data from the China Passenger Car Association showed on Tuesday.

Sales of the U.S. automaker’s Model 3 and Model Y vehicles made at its Shanghai “gigafactory”, including exports to Europe, India and other markets, dropped 32.3% from September.

Its biggest Chinese rival, BYD, posted a 12% drop in global vehicle sales last month, a second consecutive month of decline and the steepest fall in nearly two years amid hyper-competition in the home market.

(Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Christopher Cushing)