According to the Zhito Finance APP, despite the chinese government's increase in subsidies aimed at attracting more consumers to purchase electric vehicles, Tesla's (TSLA.US) factory in shanghai saw its delivery volume decline for the second consecutive month in November. Preliminary data released by the china passenger vehicle association on Tuesday shows that Tesla's shipments last month were 78,856 vehicles, a year-on-year decrease of 4.3%. However, this figure represents a 15.5% increase compared to October.

In china, the world's largest auto market, Tesla and major domestic competitors such as BYD are offering additional incentives to car buyers to help achieve their year-end sales targets. The chinese market is very important for Tesla, and the company's performance in china this quarter will be crucial to whether it can end 2024 with record sales.

Tesla must sell at least 0.515 million vehicles globally in the last three months of 2024 in order to achieve its annual sales guidance of "slight growth," whereas last year's sales were 1.81 million vehicles.

In addition, the passenger vehicle association announced that the wholesale sales of new energy passenger vehicles in November reached 1.46 million units, a year-on-year increase of 51%.