Tesla’s retail sales in China experienced a decline in February, with a total of 26,777 vehicles sold in the domestic market. This marked an 11.16 percent decrease compared to the same period last year and a 20.55 percent drop from January. In the first two months of the year, Tesla’s retail sales in China amounted to 60,480 units, reflecting a 13.63 percent year-on-year decrease.
The lower sales figures can be attributed to various factors, including the Chinese New Year holiday which disrupted production and consumer activity. Additionally, Tesla had reportedly planned to suspend part of its production lines in Shanghai, particularly those producing the new Model Y, during the Chinese New Year period to optimize equipment.
Tesla’s factory in Shanghai serves as a production hub for both local deliveries and exports. The company follows a pattern of producing cars for export in the first half of the quarter and focusing on the local market in the second half. In February, Tesla’s exports from the Shanghai plant were down by 87.06 percent compared to the previous year.
Overall, Tesla China’s sales in February, including exports, decreased by 49.16 percent year-on-year. The wholesale sales of Model Y in February saw a significant decline of 77.84 percent compared to the same period last year.
In terms of passenger new energy vehicle (NEV) sales in China, Tesla accounted for 3.90 percent of the total retail sales in February. The company also contributed 6.27 percent to the retail sales of battery electric vehicles (BEVs) during the same period.
Looking at the bigger picture, Tesla’s retail sales in China for the January-February period totaled 60,480 units, reflecting a 13.63 percent decrease year-on-year. The Shanghai plant exported 33,446 units during this period, marking a 45.87 percent decrease compared to the previous year.
Despite the challenges faced in February, Tesla remains a key player in the Chinese EV market. With a focus on innovation and customer demand, the company continues to strive for growth and success in the region.
