Tesla China Shipments Rebound in February Bucking Industry Trend

Tesla Inc.’s China sales recovered in February from a low base last year, as the electric-vehicle maker weathered challenges from a nine-day Lunar New Year lull and gradual phase out of subsidies.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Tesla Inc.’s China sales recovered in February from a low base last year, as the electric-vehicle maker weathered challenges from a nine-day Lunar New Year lull and gradual phase out of subsidies.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.The Elon Musk-led company delivered 58,599 vehicles during the month, a 91% jump from a year ago, data released by China’s Passenger Car Association showed on Thursday.In January, Tesla’s China retail volumes plunged 45% to 18,485 units — the lowest level since late 2022 when the nation started to recover from Covid lockdowns. While deliveries rebounded to 38,206 units last month, Tesla faces relentless competition from high-tech domestic rivals like Xiaomi Corp. and BYD Co.BYD just debuted an upgraded charging technology that it claims can recharge an EV from 10% to 70% in five minutes, and achieve near full charge in nine minutes. To keep attracting buyers and defend its market share, Tesla has extended financing plans with zero or ultra-low interest rates through the end of the first quarter.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.The broader market, however, remains fragile. Total car sales slumped 25% in February to about 1.03 million units. Even the previously resilient new-energy vehicles — comprising EVs and plug-in hybrids — contracted 32% year-on-year, according to PCA. The slump was largely attributed to a pull-forward effect, as buyers rushed to finalize purchases in December last year to avoid a 5% new-energy vehicle tax that took effect on New Year’s day.BYD, which outperformed Tesla and has become the world’s largest EV maker, reported a 41% drop in vehicle sales for February from a year earlier.The downturn in retail sales is expected to persist into March, undershooting previous forecasts, according to PCA Secretary General Cui Dongshu. Volumes may not return to growth until the second half of the year, Cui said.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.