Tesla’s India Launch Struggles With Only 600 Orders Reported
Tesla Inc. (NASDAQ: TSLA) has faced a weak start in India, with Bloomberg reporting that the company received just over 600 car orders since its July debut.
The figure is well below Tesla’s internal expectations, according to sources cited by Bloomberg. It also represents only a fraction of the company’s global sales this year, which have already shown signs of decline.
Concerns about slowing demand for Tesla are growing. Data released last week showed Tesla’s European sales dropped more than 33% year-on-year from January to July.
High Pricing Challenges Tesla in India
Tesla launched its Model Y in India in mid-July. Despite being the brand’s most affordable EV, the starting price was set at 59.89 lakh rupees ($69,700). This is far higher than the U.S. price tag of $44,490.
The premium price positions the Model Y in India’s luxury auto market. Here, Tesla competes with global brands like BYD, BMW, and Kia, all of which already have strong footholds in the country.
Local Rivals Intensify the Competition
Tesla also faces competition from Indian automakers Tata Motors and Mahindra & Mahindra. Both companies offer electric vehicles at much lower prices compared to Tesla’s Model Y, appealing to cost-sensitive buyers in India’s fast-growing EV market.
