Tesla added to its electric vehicle inventory in Shanghai at its fastest pace ever in October, brokerage data showed, at a time when automakers and investors are bracing for a downturn in the world’s largest car market.
this year, down from 8.1% last year, and automakers are bracing for Beijing to roll back subsidies on EVs and hybrids.
Hong Kong-based CMBI has been bearish about the outlook for China’s auto market, saying in a note last month that it expects a slowdown in retail demand in 2023 and citing a growing inventory of unsold cars as a concern. Tesla’s pattern has been to produce more vehicles at the beginning of a quarter and to focus on deliveries in the closing weeks, a practice Musk has said the company is working to change by better pacing deliveries.
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