Tesla’s domestic sales in China collapsed 45% year-over-year in January, falling to just 18,485 units — the automaker’s lowest monthly retail figure in the country since November 2022. The data, released today by the China Passenger Car Association (CPCA), paints a grim picture of Tesla’s demand in the world’s largest EV market.
The figure represents an 80% plunge from December’s record-high 93,843 domestic deliveries. While seasonal declines between December and January are normal in China, a 45% year-over-year drop is not.
I get European as a status symbol but thinking any American products as a show of wealth and class baffles me. Maybe I’m just old, but I associate American goods with ruggedness, cool, or cheap.
All comes down to marketing. You think European products are a status symbol because LVMH spends enormous sums to convince you of their quality. American firms do the same thing in China.
Speaks to your media consumption habits. I’ve always associated American goods with hip hop and street art. But I’m also bombarded with images of kids in track suits and giant hair doing kick-flips while downing soda. Or bohemian-types rolling up to a drive through in a top-down convertible while belting out pop music.
But it’s all just image. None of it is material.