Photo: Yan Chang
Tesla’s China-produced electric vehicles experienced a 35% year-over-year increase in sales and exports, with 88,869 units sold in March, according to data released by the China Passenger Car Association (CPCA), reports Reuters.
This marks a 19.4% increase from February, when the Texas-based automaker delivered 74,402 China-made Model 3 and Model Y electric vehicles.
In comparison, Chinese automaker BYD sold 206,089 EVs and hybrids last month, including its Dynasty and Ocean series, representing a 97.5% increase from the previous year, as per CPCA data.
Tesla reported record global vehicle deliveries in the first quarter of the year on Sunday, revealing record production at 440,808 and deliveries at 422,875 for Q1, with the latter up 36% year-over-year.
According to data from China Merchants Bank International (CMBI), Tesla is on track for its strongest quarter in retail sales within China during the first three months of the year. As of March 26, the company had sold 122,801 units, accounting for 13% of China’s new energy car sales, which encompasses both pure electric and plug-in hybrid vehicles.
Meanwhile, BYD captured a significant 41% market share in this segment, as per CMBI data. BYD does not make all-battery electric vehicles like Tesla.
Tesla’s 2023 guidance is for 1.8 million vehicles produced and so far the company looks to be on track for that, with possibilities of going higher than expected. Recent rumours have claimed Tesla may launch Full Self-Driving beta in China soon.
