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Tesla Inc. has dropped out of the top ten EV companies in the Chinese domestic market as the Elon Musk-led EV giant’s retail sales fell in April.
Tesla Drops Out Of Top 10
In a report by CnEVPost on Tuesday, citing the China Passenger Car Association (CPCA) data, BYD Co. Ltd., Geely Automobile Holdings Ltd., Changan, Stellantis NV-backed Leapmotor and Xiaomi Corp. made up the top five new energy vehicle (NEV) automakers in the country.
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BYD’s sales stood at 182,025 units in April, representing a 32.3% YoY decline, the report said. Tesla’s retail sales fell to over 25,956 units. The figure constituted a 9% YoY decline, but was down more than 50% when compared to March. However, Tesla was fifth in terms of total sales from January to April 2026 with 138,754 units.
New Financing Scheme
Coinciding with the April sales dip, Tesla also unveiled new, affordable financing options in the Chinese market, according to a CnEVPost report on Wednesday. The automaker is offering the new program on financing plan on the Model 3, Model Y and Y L units produced locally, and is available to consumers who complete the purchase by May 31, 2026.
Tesla is offering lower down payments and lower monthly payments, with an annualized interest rate at 0.92% and a new lump-sum payment due at the end of the loan.
See Also: Avoid the #1 Investing Mistake: How Your ‘Safe’ Holdings Could Be Costing You Big Time
Auto Industry Cautions Against China
The news comes as industry stakeholders and lawmakers have pushed President Donald Trump to block Chinese investments in the American car market ahead of a key meeting with Chinese President Xi Jinping, where Trump would be accompanied by a host of CEOs, including Musk.
Rep. Ro Khanna (D-CA) also cautioned against China’s entry into the American auto industry, terming it a “disaster for American workers.”
Photo courtesy: Mijansk786 on Shutterstock.com
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