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Fortune
Fortune
Lionel Lim

Tesla's China sales are falling compared to its rival BYD—and the drop could have been worse without its price war

Tesla Inc. BYD China the China Passenger Car Association Bill Russo European Union NIO
(Credit: Costfoto—NurPhoto via Getty Images)

Last week, Tesla reported its first quarter-on-quarter decline in sales since 2020, pushing the carmaker to launch a new round of price cuts and sparking fears of earnings downgrades for the world's most valuable automaker.

Now, new data from one of Tesla's most important overseas markets shows the sales challenge facing the electric carmaker.

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