Tesla Rushes Shipments in China as Subsidy Deadline Nears
补贴到期前夕，特斯拉在华交付激增
Tesla’s Shanghai Gigafactory saw a strong rebound in November, delivering 86,700 Model 3 and Model Y vehicles — up 41% from October and 10% year on year — as consumers hurried to buy before government subsidies expire. It marked the plant’s third year-on-year gain in 2025, helped by a nationwide buying spree triggered by ending trade-in incentives and an upcoming EV purchase tax of 5% starting January.
Despite the surge, analysts warn it may not help Tesla regain lost ground, as its deliveries in the first 11 months fell 8.3% to 754,561 units. Tesla’s China market share has dropped below 7% amid fierce competition from brands like Xiaomi, Leapmotor and Zeekr, all posting record sales. With incentives likely ending, analysts expect a sharp slowdown in early 2026 and a possible overall market decline.
特斯拉上海超级工厂11月交付量大幅反弹，达到8.67万辆，环比增长41%、同比增长10%，因消费者赶在政府补贴到期前抢购。随着以旧换新补贴即将结束、明年起恢复5%的购置税，全国掀起购车热潮，使其今年第三次实现同比增长。
但分析人士称，这一反弹难以帮助特斯拉重夺中国市场份额。其前11个月交付量下滑8.3%至75.46万辆，市场份额跌至7%以下，同时面临小米、零跑、极氪等国产品牌的激烈竞争，这些车企均创下纪录销量。随着补贴可能取消，业内预计2026年初交付将大幅回落，甚至可能出现整体车市下滑。
