1、Insights on Tesla MarketCompetitiveness(2026)TengYi Research InstituteTesla Repeat Buyers Could Jump Start Large BEV MarketAuthorsDirector/Chief ALijun ZhouIndustry ABenya ShiIndustry AShixiang WangFollowing the localization of the Model 3 and Model Y in 2020 and 2021,Teslas sales in China experienc

2、ed rapid growth,surpassing 400,000 units in 2022.From 2023 to 2025,annual sales exceed-ed 600,000 units for three consecutive years,enabling Tesla to overtake the German premium brands(BBA)and rise to the top position in Chinas high-end vehicle brand sales rankings;Tesla not only commands a large in

3、stalled base in China but also benefits from a high-quality user profile.Between 2020 and 2025,Teslas core price band in China was concentrated in the RMB200,000350,000 range.A significant share of Tesla owners belong to multi-vehicle house-holds,and many households that were able to purchase vehicl

4、es priced above RMB200,000 and own multiple vehicles during this period can be considered premium,high-value customers within the Chinese passenger vehicle market;During the 15 Five-Year Plan period,if Tesla can retain its large and high-quality existing user base,this would undoubtedly support furt

5、her strong sales growth in China.However,Tesla currently offers only pure battery-electric products,with its portfolio heavily concentrated in the relatively narrow RMB200,000350,000 price band.Such a product layout constrains Teslas ability to address the increasingly diversified replacement and ad

6、ditional-purchase needs of existing custom-ers.Between 2023 and 2025,Teslas stated loyalty intention stood at only around 30%,implying that as many as 70%of users exhibit an intention to switch to other brands;During the 15 Five-Year Plan period,following the wave of replacement demand from legacy B