Tesla China Deliveries Surge 91% to 58,599 Units in February
Tesla delivered 58,599 vehicles in China in February, up 91% from a year earlier, rebounding from a 45% drop to 18,485 units in January. The recovery comes as BYD and Xiaomi accelerate ultra-fast charging rollouts while total Chinese auto sales fell 25% and new-energy vehicle sales dropped 32% year-over-year.
1. February China Deliveries Jump
Tesla delivered 58,599 vehicles in China during February, marking a 91% increase year-over-year. This rebound follows a challenging January when deliveries plunged 45% to 18,485 units, the lowest monthly retail volumes since late 2022.
2. Intensified Competition from Domestic Brands
Domestic automakers like BYD and Xiaomi are ramping up technology and market presence, with BYD introducing a system that charges from 10% to 70% in about five minutes and reaches near full charge in nine minutes. Tesla has extended zero or very low interest financing through the end of the first quarter to sustain demand.
3. Broader Chinese Auto Market Decline
Overall vehicle sales in China fell 25% in February to around 1.03 million units, while new-energy vehicle sales dropped 32% year-over-year. The slowdown reflects a pull-forward effect before a new 5% tax on new-energy vehicles took effect at the start of the year, with market growth expected to return later in the year.