Sharp Decline in Tesla's China Sales

In a surprising turn of events, Tesla's sales of China-made electric vehicles experienced a significant drop, decreasing by 49.2% in February compared to the same month last year, as reported by the China Passenger Car Association (CPCA).

Competition Heats Up

With only 30,688 Model 3 and Model Y vehicles sold, Tesla saw a 51.5% decline from January. This downturn occurs amidst the rapid expansion of domestic competitor BYD, which reported an impressive 161.4% surge in sales last month, delivering 318,233 units from its Dynasty and Ocean series.