Data released by the China Passenger Car Association (CPCA) indicates that Tesla sold 88,869 electric vehicles (EVs) produced in China during March. These sales figures encompass both domestic and export sales. The number reflects a 35% increase from the same month in the previous year, and a 19.4% increase from February, during which Tesla sold 74,402 Model 3 and Model Y electric vehicles made in China.
On the other hand, the CPCA data revealed that BYD sold 206,089 units of its Dynasty and Ocean series of electric vehicles (EVs) and hybrids in the previous month. This figure represents a 97.5% increase from the same period last year.
Even though Tesla achieved a record-breaking number of vehicle deliveries worldwide during the first quarter of 2023, its quarter-on-quarter sales growth remained modest. This could be attributed to the rise in competition and the somber economic situation, despite the company’s efforts to lower prices.
China Merchants Bank International (CMBI) data predicts that Tesla’s retail sales in China will perform the best in the first quarter of the year. As of March 26, the company had sold a total of 122,801 units, comprising 13% of China’s new energy car sales, which include both pure electric and plug-in hybrid cars. In comparison, BYD accounted for 41% of that segment, according to CMBI data.