Tesla China sales rise year over year but lose momentum in August

Tesla $TSLA sold 86,166 China-made Model 3 and Model Y vehicles in August, up 3.6% from a year earlier but down 7.9% from July.
The year-over-year growth rate slowed sharply from approximately 38% in July, although August still marked Tesla's tenth consecutive month of annual sales growth.
Tesla's share of China's battery-electric vehicle market has declined to about 6.6% from more than 15% in 2020 as domestic competition has intensified.
Exports also accounted for more than half of Shanghai factory production during the second quarter for the first time, highlighting the growing importance of overseas demand.